Binance founder Changpeng “CZ” Zhao is backing a new BNB-focused treasury company through his family office, with plans for the firm to go public in the United States.
YZi Labs, which represents CZ’s investment interests, is partnering with 10X Capital to launch the venture, which will buy and hold BNB tokens. The unnamed company will be led by David Namdar, a co-founder of Galaxy Digital and partner at 10X Capital, which will also serve as the asset manager.
This move mirrors a broader trend of crypto treasury firms forming to give Wall Street and retail investors regulated exposure to digital assets like Bitcoin and, now, altcoins such as BNB.
BNB — originally issued by Binance and used within its BNB Chain ecosystem — offers perks on the Binance platform and supports a growing number of decentralised apps. Despite CZ stepping down from Binance management following US legal proceedings, he remains its largest shareholder and holds roughly 94 million BNB tokens — over 64% of the total supply.
The firm’s IPO ambitions come amid a growing wave of crypto accumulation by public companies. Chinese firm Nano Labs recently began buying BNB, aiming to acquire up to $1 billion worth. Other companies, like Trident Digital and Webus, have made similar moves with altcoins like XRP.
According to CZ, over 30 teams are now exploring the idea of forming publicly traded BNB treasury entities.
