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BNB-Focused Treasury Firm B Strategy Looks to Raise $1B With Backing From CZ's YZi Labs
The hoped-for U.S.-listed company will hold BNB and invest in the BNB ecosystem.
Updated Sep 2, 2025, 11:48 a.m. Published Aug 25, 2025, 2:09 p.m.
What to know:
- B Strategy is forming a U.S.-listed company that will hold BNB as a treasury asset and invest in the BNB ecosystem.
- The initiative will be led by former Bitmain CFO Max Hua and the co-founders of Metalpha.
- Binance co-founders Changpeng "CZ" Zhao and Yi He are backing the effort through their investment firm YZi Labs.
Digital asset investment firm B Strategy is launching a U.S.-listed company to serve as a BNB treasury and investment vehicle, according to a press release. The company is targeting a $1 billion raise and is being formed with strategic support from YZi Labs — the investment firm co-led by Binance co-founder Changpeng Zhao.
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The new company will be led by Max Hua, the former CFO of mining giant Bitmain, and co-founders of crypto asset manager Metalpha. Its goal is to offer institutional-grade exposure to BNB, the native token of the BNB Chain, by modeling the vehicle after a familiar playbook.
"The initiative intends to operate through a U.S.-listed vehicle not only to hold BNB as a treasury but also to become the ‘Berkshire Hathaway’ of the BNB ecosystem," the release stated.
That ambition goes beyond asset holding. According to the statement, the firm will dedicate capital and resources to grow the BNB ecosystem by funding core technology, offering grants for experimental projects, and supporting community-led initiatives.
Max Hua said that the company would focus on transparency and governance.
"Drawing on my years working with the most prominent Bitcoin miners globally, I've seen the true scale of demands for industrial-grade governance, transparent reporting, and bank-level controls," Hua said. "We're bringing that operator's discipline to the company: independently verified holdings, best-in-class custody, rigorous risk limits, and seamless cross-border processes so investors—from New York to Hong Kong—can access BNB with confidence and efficiency."
The company adds to a growing list of vehicles attempting to bridge crypto-native tokens with traditional public markets. If successful, it could bring institutional and retail investors alike into the BNB ecosystem with the same ease and scrutiny as legacy financial assets.
Correction (Sep 2, 11:47 UTC): Clarifies that He Yi, the co-founder of YZi Labs alongside Changpeng Zhao, is not involved in this matter.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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