🏦 CZ-Backed “BNB Treasury Company” Aims for U.S. IPO

Changpeng Zhao’s YZi Labs teams with 10X Capital to launch a public vehicle that will buy and hold BNB, giving Wall Street direct exposure to Binance’s native token.

· Web3 网3

🔑 Key Points

  • BNB Treasury Company will accumulate BNB and seeks a listing on a “major U.S. exchange.”
  • YZi Labs (CZ’s family office) is backing the venture; 10X Capital will act as asset manager.
  • David Namdar (Galaxy Digital co-founder) will serve as CEO.
  • Strategy mirrors MicroStrategy’s Bitcoin play, but focused on BNB, now trading near $670.

📈 Why This Matters

broken image

10X Capital CEO Hans Thomas says BNB powers “hundreds of millions of users,” yet U.S. investors mostly sit on the sidelines.

🏗️ How the Structure Works

  1. Private raise led by 10X Capital (closing “in the coming weeks”)
  2. Bulk purchase of BNB for treasury reserve
  3. IPO filing on a major U.S. exchange (ticker TBA)
  4. Ongoing issuance or debt to buy additional BNB—similar to MicroStrategy’s playbook

Although Binance has no official role, its founder CZ reportedly controls ~96 % of BNB supply via personal and corporate holdings, adding intrigue to the float dynamics.

📊 BNB Tokenomics Snapshot (July 2025)

broken image

⚠️ Regulatory & Liquidity Considerations

  • BNB is not covered by a U.S. ETF, and some regulators view exchange tokens skeptically.
  • Supply concentration (CZ + Binance) could amplify volatility.
  • IPO approval will test how U.S. markets treat single-asset crypto treasuries beyond Bitcoin.

🚀 Growing Wave of Treasury Altcoin Firms

broken image

CZ hinted on X that “30+ teams” are pitching similar BNB vehicles—signaling potential competition for token supply.

🛒 Ready to Diversify? Check Out KXZ.Store

Bolster your portfolio with stablecoins first. Grab a KXZ.Store Binance Gift Card to load USDT or USDC instantly on Binance—then pivot into BNB, BTC, or any token you like. Secure, fast & fee-friendly.