10X Capital is an asset management firm, strongly focused on crypto assets and the digital transformation of Wall Street. This single-chain treasury model brings optimism to BNB’s long-term utility and institutional interest.
On June 24, Nano Labs, a Chinese Web3 infrastructure company, announced $500 million in private convertible notes for creating a BNB treasury.
YZi Labs manages about $10 billion in assets but hasn’t disclosed how much it will commit to this BNB-native project.
BNB is currently the fifth-largest cryptocurrency with a market cap of nearly $95 billion. The asset is trading at $672 at the time of writing.
Industry veterans like Galaxy Digital co-founder David Namdar and the former Kraken executive Saad Naja are leading the effort.
Following the rebranding, Zhao, former Binance CEO, joined YZi Labs as an advisor. The VC has already invested in some promising companies like Vana Network and OneKey.
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Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.