B Strategy, an investment firm led by former Bitmain executives, has announced the launch of a $1 billion treasury focused on the cryptocurrency BNB.
Announcement of Launch
On Monday, the launch of the new BNB treasury was announced, backed by YZi Labs, the family office of Binance co-founder Changpeng Zhao.
Structure and Funding
According to a spokesperson for B Strategy, the new company will be structured similarly to 10X Capital, which recently launched a BNB treasury with support from YZi Labs. To fund its crypto treasury, 10X Capital raised $250 million in July, allocating capital for accumulating and holding BNB as a long-term reserve asset. "We plan to collaborate with a U.S.-listed company through a private placement," the representative stated.
Current Status of BNB
According to Cointelegraph indexes, BNB is the fourth-largest crypto token by market capitalization, worth $120.3 billion at this time. Beyond trading, BNB is used to pay transaction fees, participate in staking and governance, making it central within the broader Binance ecosystem.
B Strategy continues to develop the cryptocurrency asset system, noting the potential interest from Asian investors and the growing importance of BNB in the financial sector.
