Changpeng Zhao Drives the Corporate BNB Challenge to New Heights

Key Points

1. YZi Labs, founded by Binance's former CEO, is partnering with 10X Capital to create a BNB-focused treasury company, aiming to list BNB-backed shares on a US exchange.

2. Changpeng Zhao holds 98.5% of his portfolio in BNB, owning 94 million BNB as of June 2024, representing 64% of its circulating supply.

3. Nano Labs has allocated $50 million to purchase around 74,000 BNB, with a target to acquire up to $1 billion worth, capturing 10% of the supply.

4. Following the announcements, Nano Labs’ shares surged to $22, while BNB’s price climbed 2.7% to reach $670.

5. The initiative aims to transform BNB from a service-oriented currency to a broader financial asset, enhancing its utility beyond exchange-based origins.