Chinese Bank Plans $600 Million Fundraiser for BNB Treasury Company
Chinese Investment Bank Raises $600 Million for BNB
- China Renaissance Holdings Ltd., a Chinese investment bank, plans to raise $600 million to establish a Digital Asset Treasury (DAT) company in the US focused on https://holder.io/coins/bnb/.
- YZi Labs Management Ltd., previously known as Binance Labs, intends to invest $200 million in this initiative.
- The partnership between China Renaissance and YZi Labs aims to enhance the development of BNB and its ecosystem.
- China Renaissance also plans to allocate $100 million in BNB as part of its proprietary holdings, marking it as the first Hong Kong-listed company to do so.
BNB Treasury Company Trend
- The trend of creating crypto-based DAT companies is growing, with significant investments in these vehicles recently.
- CEA Industries, the largest BNB Treasury Company, reported treasury holdings of $663 million, including 480,000 BNB tokens valued at $585.5 million.
- Kazakhstan launched its first crypto reserve fund, Alem Crypto Fund, partnering with Binance Kazakhstan, making BNB its initial investment.
- https://holder.io/coins/bnb/ experienced a 36% rally over the past month, reaching a high of $1,370 on October 13, currently trading at $1,281.
