U.S. listing will connect Western capital with Asian liquidity.
Former Bitmain executives are preparing a major comeback in the crypto world. As reported by Cointelegraph, their firm B Strategy is setting up a $1 billion BNB-focused treasury company, backed by YZi Labs, the family office of Binance co-founders Changpeng Zhao and Yi He. The project aims to give BNB the kind of institutional recognition and structured investment vehicle that has so far been reserved mostly for Bitcoin.
The plan is ambitious. B Strategy wants to create a U.S.-listed company that acts like a Berkshire Hathaway for the BNB ecosystem. Instead of simply holding the token, the treasury will use its funds to grow the ecosystem. That includes technology investments, grants, and other initiatives that strengthen BNB’s long-term role in the market.
The firm’s vision is simple: turn BNB into a reliable treasury asset. By doing so, it hopes to give investors a transparent and regulated path into one of crypto’s most widely used tokens.
The project is not short on experience. At the front of the project is Leon Lu, co-founder of Metalpha, known for delivering impressive returns of over 270% in just two years. Working with him is Max Hua, who previously served as CFO and acting CEO of Bitmain, bringing strong experience in finance and company leadership.
The two want to run this treasury with the same discipline seen in traditional finance. Their focus is on clear reporting, secure asset management, and following regulations closely. The idea is to prove that cryptocurrencies can be handled with the same professionalism and trust as any established investment fund.
BNB has grown far beyond its origins as a utility token for Binance. It now plays a central role in decentralized finance, powering staking, governance, and blockchain projects. Its market capitalization sits above $120 billion in 2025, while its DeFi ecosystem has locked in more than $13 billion.
For B Strategy, these numbers highlight BNB’s maturity. It is not just a speculative coin but an asset with real utility and growing institutional interest. By creating a treasury around it, the firm hopes to give investors a safer and more structured way to engage with its ecosystem.
Another key part of the plan is building a bridge between East and West. The company intends to list in the U.S. while leveraging its strong base in Asia and the Middle East. This gives it access to American capital markets as well as Asia-Pacific liquidity, allowing the treasury to operate around the clock.
Of course, no crypto venture is risk-free. Previous attempts at treasury-style firms have struggled with volatility. Some even collapsed after going public. B Strategy believes it can avoid those pitfalls by focusing on governance, discipline, and transparency.
If successful, the project will not only secure BNB’s place as a treasury asset but also inspire similar ventures for other tokens.
Anchor investors, including large Asian family offices, are already on board. With fundraising and listing plans moving ahead, B Strategy’s $1 billion treasury could mark a new chapter for BNB. The move shows how crypto is shifting from speculative trading toward structured, long-term investment.
For now, all eyes are on whether B Strategy can deliver on its bold promise — and turn BNB into the cornerstone of a new financial model.
