Binance Founder-Backed BNB Treasury Firm Plans US IPO

Changpeng Zhao, co-founder of Binance, through his family office YZi Labs, is backing a new treasury firm called the BNB Treasury Company, which aims to provide institutional and retail investors in the U.S. with easier access to BNB, the native token of the Binance ecosystem. The firm, managed by investment company 10X Capital and led by CEO David Namdar, plans to acquire and hold BNB as a long-term treasury asset and intends to list its shares on a major U.S. stock exchange. This initiative seeks to fill a gap in institutional exposure to BNB, offering a regulated, accessible investment vehicle without requiring direct cryptocurrency wallet access. BNB, launched by Binance in 2017, powers the widely adopted BNB Chain blockchain ecosystem and offers benefits such as trading fee discounts, although Binance does not control its ongoing development. The move reflects a growing trend of crypto treasury companies facilitating public market exposure to digital assets, following precedents like MicroStrategy with Bitcoin. YZi Labs and 10X Capital emphasize regulatory alignment and institutional readiness as key aspects of the strategy, with the public and market watching closely as the IPO ambitions progress.