Institutional interest in Binance’s ecosystem is growing as B Strategy, a crypto investment firm led by experienced industry figures, announced plans on Monday to launch a U.S.-listed digital asset treasury company.
The initiative aims to raise $1 billion to focus on BNB, the world’s fourth-largest cryptocurrency by market capitalization. This move positions B Strategy as a key player in what could be one of the most significant institutional investments in Binance’s native token to date, though other firms are also pursuing large-scale BNB treasury plans.
YZi Labs, the family office of Binance co-founder Changpeng Zhao, is backing the ambitious venture. B Strategy will partner with an existing US public company through a private deal. Once complete, the public company will discontinue its current business and become a pure BNB holding vehicle, trading on American stock exchanges.
“We’re building a bridge between U.S. and Asian markets,” said a spokesperson of B Strategy. “Asian investors want US stock exposure, and they trust our team to manage their BNB investments,” he added.
The timing could not have been better. As of late August 2025, BNB is trading at approximately $859 per token with a market capitalization of $120.3 billion, ranking it as the fourth-largest cryptocurrency worldwide. The token plays a central role in the Binance ecosystem, supporting trading fee discounts, staking rewards, governance voting on the BNB Chain, and various decentralized applications.
Leon Lu, B Strategy’s co-founder, calls their approach “maximize BNB-per-share”. The company aims to become the “Berkshire Hathaway of the BNB ecosystem” by not only hoarding tokens but also reinvesting profits into new Binance projects.
Ella Zhang, chief of YZi Labs, said BNB is quickly becoming a force in crypto. “BNB is shaping up to be the cornerstone of Web3, with its massive trading activity and strong builder incentives fuelling adoption at scale.”
BNB Treasuries Rise, But Control Sparks Concern
The BNB treasury wave is already gaining steam. Colorado-based CEA Industries saw its stock soar 550% after unveiling BNB treasury plans, while Hong Kong-based BMB Network’s $500 million BNB fund drew more investor demand than it could absorb.
But there’s a catch. Changpeng Zhao, Binance’s founder, holds approximately 64% of BNB’s circulating supply, about 94 million tokens, giving him significant influence over the token’s market and governance, as reported by Forbes. This substantial control likely bolsters confidence in B Strategy’s decision to launch a $1 billion U.S.-listed treasury focused on BNB, leveraging Zhao’s YZi Labs and its strong Asian connections, particularly in Hong Kong, with backing from prominent family offices.
The initiative mirrors 10X Capital’s successful $250 million BNB treasury raise in July 2025, also supported by YZi Labs, which employs a similar strategy of long-term BNB holding. YZi Labs, formerly known as Binance Labs, is managed by Ella Zhang for daily operations, with Zhao providing strategic direction.
Wall Street is paying attention to these developments as more companies abandon traditional business models to become crypto treasuries. The strategy bets that holding major tokens such as BNB will deliver better returns than operating regular businesses.
B Strategy’s founders bring serious crypto credibility. Their background means they understand how to build and scale massive crypto operations from the ground up.
