China Renaissance Plans $600 Million BNB Treasury Fund
China Renaissance Holdings Ltd., a Beijing-based investment bank, is planning to raise about $600 million. The goal is to launch a U.S.-listed digital-asset treasury company focused on BNB. BNB is the native token of Binance.
Bloomberg reported that China Renaissance has already committed to investing around $100 million in BNB assets. Key contributors to the fund include YZi Labs, the family office of Binance co-founder Changpeng Zhao, and China Renaissance itself. The fund will actively manage and hold BNB tokens, offering institutions greater exposure to the asset.
Growing Interest in BNB Treasury Companies
Several firms have recently created BNB-backed treasuries. Last week, CEA Industries Inc. announced it holds 480,000 BNB tokens worth about $585.5 million. This makes CEA Industries the largest BNB treasury company globally. The tokens were purchased at an average price of $860 each. The company also holds $77.5 million in cash reserves.
Earlier this year, B Strategy aimed to raise a $1 billion BNB treasury to support its ecosystem. Windtree Therapeutics also raised $200 million to build its BNB treasury.
BNB Hits New All-Time High Amid Market Volatility
On October 13, BNB surged 16% in 24 hours, reaching a new all-time high of $1,370. CoinMarketCap data showed BNB trading near $1,312 at the time of publication. This price rise followed a major crypto flash crash that wiped out over $19 billion in market value in one day.
Market analysts say BNB outperformed many top altcoins during the crash. On October 11, BNB dropped to $1,024 but quickly recovered, indicating strong investor confidence.
