Binance-backed YZi Labs and 10X Capital to launch publicly listed BNB Treasury Company
The post Binance-backed YZi Labs and 10X Capital to launch publicly listed BNB Treasury Company appeared on BitcoinEthereumNews.com. 10X Capital and Binance co-founders’ family office YZi Labs is setting up an investment fund to offer US investors direct exposure to Binance’s native token, BNB. The two financial institutions are collaborating to launch a publicly traded entity called the BNB Treasury Company, which will focus exclusively on acquiring and holding BNB, the fourth-largest cryptocurrency by market capitalization. According to a press statement released Thursday, YZi Labs will support 10X Capital in its pursuit of a listing on a US stock exchange. The new fund will reportedly provide both institutional and retail investors in the United States with a regulatory compliant way to invest in the BNB Chain. Backing from Binance founders’ family office YZi Labs, which manages around $10 billion in assets, is the family office of Binance co-founders Changpeng Zhao (CZ) and Yi He. The firm confirmed it will “support” the establishment of the BNB Treasury Company but did not disclose further details of its financial or operational involvement. 10X Capital has assembled a leadership team with years of experience in digital asset management and institutional finance. David Namdar, a senior partner at 10X and co-founder of Galaxy Digital, will co-lead the initiative. Joining him is Russell Read, Chief Investment Officer at 10X Capital and a former CIO at several institutions including CalPERS, the Alaska Permanent Fund, and Deutsche Asset Management. Former Kraken product leader and director Saad Naja will be part of the executive board. Naja sits on the board of Exinity, a global retail brokerage firm. Capital raised to fund initial BNB acquisition 10X Capital has partnered with Cohen & Company Capital Markets and Clear Street LLC to raise funds for the initial purchase of BNB. The investment firm will also manage the treasury company. It has experience in launching digital asset treasury firms, including Nakamoto…
The post Binance-backed YZi Labs and 10X Capital to launch publicly listed BNB Treasury Company appeared on BitcoinEthereumNews.com.
10X Capital and Binance co-founders’ family office YZi Labs is setting up an investment fund to offer US investors direct exposure to Binance’s native token, BNB. The two financial institutions are collaborating to launch a publicly traded entity called the BNB Treasury Company, which will focus exclusively on acquiring and holding BNB, the fourth-largest cryptocurrency by market capitalization. According to a press statement released Thursday, YZi Labs will support 10X Capital in its pursuit of a listing on a US stock exchange. The new fund will reportedly provide both institutional and retail investors in the United States with a regulatory compliant way to invest in the BNB Chain. Backing from Binance founders’ family office YZi Labs, which manages around $10 billion in assets, is the family office of Binance co-founders Changpeng Zhao (CZ) and Yi He. The firm confirmed it will “support” the establishment of the BNB Treasury Company but did not disclose further details of its financial or operational involvement. 10X Capital has assembled a leadership team with years of experience in digital asset management and institutional finance. David Namdar, a senior partner at 10X and co-founder of Galaxy Digital, will co-lead the initiative. Joining him is Russell Read, Chief Investment Officer at 10X Capital and a former CIO at several institutions including CalPERS, the Alaska Permanent Fund, and Deutsche Asset Management. Former Kraken product leader and director Saad Naja will be part of the executive board. Naja sits on the board of Exinity, a global retail brokerage firm. Capital raised to fund initial BNB acquisition 10X Capital has partnered with Cohen & Company Capital Markets and Clear Street LLC to raise funds for the initial purchase of BNB. The investment firm will also manage the treasury company. It has experience in launching digital asset treasury firms, including Nakamoto…
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