Binance Co-Founder’s Family Office Backs New BNB Treasury Firm for US Public Listing

• Binance co-founder Changpeng Zhao’s family office backs a new BNB treasury firm that plans to go public on US exchanges.

• David Namdar from Galaxy Digital will lead the company, while 10X Capital manages the BNB buying strategy.

• This follows a trend of public companies buying cryptocurrencies, and Zhao owns 94 million BNB tokens worth $63 billion.

YZi Labs, the family office of Binance co-founder Changpeng Zhao, announced plans to support a new treasury company focused on BNB tokens. The firm will partner with investment company 10X Capital to create a public vehicle offering exposure to BNB on major US exchanges.

The “BNB Treasury Company” will operate under the leadership of David Namdar as CEO. Namdar brings extensive experience as a senior partner at 10X Capital and co-founder of Galaxy Digital, where he previously served as co-head of trading. 10X Capital will manage the company’s assets and oversee BNB acquisition strategies.

Growing Institutional Demand for BNB Access

The planned company addresses limited institutional exposure to BNB in the US market. BNB, originally known as Binance Coin, gives holders trading discounts on the Binance platform and powers applications on the BNB Chain blockchain network.

“BNB Chain is one of the most widely adopted blockchain ecosystems,” said Ella Zhang, head of YZi Labs. The executive emphasized that expanding institutional access could benefit the broader public. Hans Thomas, founder and CEO of 10X Capital, noted that BNB Chain represents one of the largest digital asset ecosystems globally, serving hundreds of millions of users.

The company expects to announce the closing of related financing within the coming weeks. This development follows a broader trend of firms creating vehicles for cryptocurrency exposure on traditional exchanges.

Zhao’s Significant BNB Holdings and Market Position

Changpeng Zhao maintains substantial exposure to BNB tokens despite his legal restrictions. In February, the former Binance CEO revealed that 98.5% of his cryptocurrency portfolio consists of BNB holdings. Forbes reported that Zhao and Binance control nearly 96% of the circulating BNB tokens.

According to the analysis, Zhao owns approximately 94 million BNB tokens, valued at nearly $63 billion and representing over 64% of the circulating supply. Binance controls an additional 31.5% of the token supply. Zhao remains Binance’s largest shareholder while serving restrictions that prevent him from managing the exchange following money laundering violation settlements.

Corporate Cryptocurrency Adoption Trend

The BNB treasury company joins a growing movement of public companies accumulating cryptocurrency holdings. Nasdaq-listed Chinese chip designer Nano Labs announced plans to purchase up to $1 billion BNB tokens, completing an initial $50 million purchase this month.

Other companies have targeted different cryptocurrencies for treasury strategies. Singapore-based Web3 firm Trident Digital and Chinese automotive company Webus have committed hundreds of millions toward XRP acquisitions.

BNB currently trades above $670, gaining 1.3% in the past 24 hours according to CoinGecko data. Zhao indicated on social media that over 30 teams have expressed interest in creating BNB treasury public companies, suggesting continued institutional appetite for structured cryptocurrency exposure.