Jul 10, 2025 10:23 PM IST
US Stock Market LIVE Updates: Binance Founders’ $10 Billion Fund Backs US Crypto Listing Bid
YZi Labs, the family office of Binance co-founders Changpeng Zhao and Yi He, will back investment firm 10X Capital’s plan to set up a publicly traded company in the US to invest in BNB, a token linked to the crypto exchange the pair started.
YZi Labs, which oversees about $10 billion in assets, will “support” 10X Capital in establishing the BNB treasury company, 10X Capital said in a statement, without giving further details on the arrangement. YZi Labs said in an email that details on the size of the fundraising “are not available for disclosure at this time,” while 10X Capital didn’t respond to a request for comment.
The new entity will be focused “exclusively” on the BNB Chain ecosystem, the blockchain that supports the BNB token, and 10X Capital will serve as asset manager, the statement said. YZi Labs said the new firm, called BNB Treasury Company, is “intended to pursue a public listing on a major U.S. stock exchange.”