"BNB Gets Its Berkshire Hathaway as $1B U.S. Treasury Launches"

B Strategy, a digital asset investment firm, is launching a Nasdaq-listed BNB treasury and investment vehicle with a target fundraising of $1 billion. The initiative, supported by YZi Labs—led by Binance co-founders Changpeng Zhao and Yi He—aims to establish a U.S.-listed entity modeled after a "Berkshire Hathaway" for the BNB ecosystem. The firm will not only hold BNB as a treasury asset but also reinvest in core technology development, experimental projects, and community-led initiatives to grow the BNB Chain ecosystem.

The firm is led by Leon Lu, co-founder of Nasdaq-listed Metalpha, and Max Hua, former CFO of mining giant Bitmain. Their leadership brings expertise in both traditional finance and crypto-native markets. Lu previously managed a Bitmain-backed crypto stocks fund that delivered a 276% return over 24 months. Hua emphasized the need for institutional-grade governance, transparent reporting, and bank-level controls, drawing from his experience in the mining industry. The company will focus on independently verified holdings, best-in-class custody solutions, and seamless cross-border processes to attract both institutional and global investors.

The venture leverages B Strategy’s Asia-Pacific footprint, including markets in Hong Kong, ASEAN, and the Middle East, to access liquidity, market intelligence, and distribution channels. This approach enables the company to support global investors with follow-the-sun execution. The initiative has already secured anchor investments from prominent Asia-based family offices, signaling strong regional backing. B Strategy expects to announce the closing of its fundraising in the coming weeks.

YZi Labs, which manages over $10 billion in assets and supports more than 300 projects globally, added credibility to the initiative. According to Ella Zhang, head of YZi Labs, BNB is emerging as a foundational utility in next-generation capital markets and financial systems. The firm’s ability to combine crypto-native expertise with traditional finance discipline positions it to amplify BNB’s momentum. YZi Labs’ support includes both funding and ecosystem integration, connecting the project with its extensive network of partners.

The broader BNB ecosystem is also showing signs of growth. BNB Chain’s total value locked (TVL) has reached $13.4 billion, its highest level since 2022, driven by steady user engagement and a rising native token price. Several publicly listed companies, including CEA Industries, have allocated significant capital to BNB, further institutionalizing the asset. Institutional adoption is expanding beyond traditional Bitcoin and Ethereum treasuries, with BNB gaining traction as a strategic reserve asset.

Despite these developments, concerns persist over BNB’s centralized ownership structure. As of August 2025, the top 11 wallets hold over 55% of BNB’s supply, with Binance itself controlling a significant portion through various wallets. This concentration raises questions about decentralization and market stability, particularly if major holders decide to move large portions of their holdings. However, DeFi platforms and liquid staking protocols have begun to diversify BNB’s usage, locking tokens into yield-generating ecosystems and reducing direct whale influence.

The launch of B Strategy’s U.S.-listed BNB treasury aligns with broader trends of institutional crypto adoption and regulatory scrutiny. By offering transparent, regulated exposure to BNB, the firm aims to attract a broader investor base, including those previously hesitant to engage with digital assets. If successful, the initiative could further integrate BNB into traditional financial systems, mirroring the approach taken by firms like MicroStrategy with Bitcoin.

Source:

[1] BNB-Focused Treasury Firm B Strategy looks to Raise $1B (https://finance.yahoo.com/news/bnb-focused-treasury-firm-b-140916059.html)

[2] B Strategy to Launch US-Listed BNB Treasury Company (https://www.blockhead.co/2025/08/26/b-strategy-to-launch-us-listed-bnb-treasury-company-targets-1b-raise/)

[3] B Strategy Planning $1B Fundraising to Establish a (https://www.nftgators.com/b-strategy-planning-1b-fundraising-to-establish-a-nasdaq-listed-bnb-treasury-company/)

[4] B Strategy to Launch $1 Billion U.S.-Listed BNB Treasury (https://www.prnewswire.com/news-releases/b-strategy-to-launch-1-billion-us-listed-bnb-treasury-company-with-yzi-labs-support-302537384.html)

[5] Former Bitmain execs to launch BNB treasury firm with YZi (https://www.theblock.co/post/368075/b-strategy-1-billion-bnb-treasury)

[6] BNB Defies Market Retreats With Record TVL of $13.4B (https://cryptopotato.com/bnb-defies-market-retreats-with-record-tvl-of-13-4b/)

[7] BNB Rich List 2025: Binance, Whales and Who Really (https://www.ccn.com/education/crypto/bnb-rich-list-binance-whales-control-token/)