B Strategy unveils $1 billion BNB treasury plan with YZi Labs support
- B Strategy plans to raise $1 billion for a BNB treasury with support from YZi Labs.
- The treasury will be launched through a US-listed company, while leveraging B Strategy's reach in Asia.
- BNB could decline to the $814 support level after falling more than 2% over the past 24 hours.
BNB saw a 2% decline on Monday despite B Strategy's plan to launch a $1 billion BNB treasury, with support from YZi Labs.
B Strategy aims for $1 billion BNB treasury with support from YZi Labs
B Strategy disclosed plans to establish a BNB treasury via a US-listed company with up to $1 billion in initial investment.
The initiative, led by co-founders of Metalpha Technology Holding aims to offer grants for innovative projects and community initiatives on the BNB Chain.
"By leveraging a publicly listed company, we will use our assets and resources to support an ecosystem that is already No.1 in daily transaction value (12.5 million transactions/day) and No.2 in dapps/projects," said Leon Lu, founder of B Strategy and co-founder of Metalpha, in a statement on Monday.
The treasury company will be created with the support of crypto investment firm YZi Labs (formerly Binance Labs), founded by Binance co-founders Changpeng Zhao (CZ) and Yi He.
"We're seeing increasing recognition from investors and institutions integrating BNB into long-term strategies. B Strategy, led by crypto + Tradfi OGs with a deep-rooted belief in Bitcoin and BNB, is uniquely positioned to amplify this momentum," said Ella Zhang, Head of YZi Labs.
CZ further confirmed YZi Labs' involvement in the treasury, although he claimed the firm is only supporting B Strategy.
Although the BNB treasury firm will be US-listed, B Strategy claims it will leverage its coverage across Asia for access to liquidity pools, market intelligence, and distribution.
The development comes as more companies are adopting BNB as a treasury reserve asset, including CEA Industries, Nano Labs, and Windtree Therapeutics.
BNB is down 2.5% in the past 24 hours despite the announcement, erasing gains from last week following a new all-time high of $900 last Friday, per Binance data.
BNB crossed below the 14-day Exponential Moving Average (EMA) and is now looking to find support at $814.
BNB/USDT daily chart
The Relative Strength Index is in a downtrend while the Stochastic Oscillator has fallen below its neutral level, indicating a rising bearish momentum.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to
