B Strategy, a leading investment firm focused on digital assets, announced a landmark initiative to launch a U.S.-listed BNB treasury company. With strategic support from YZi Labs (formerly Binance Labs), the treasury firm aims to raise $1 billion, with further growth potential.
Led by the co-founders of Metalpha and the former CFO of Bitmain, the initiative intends to operate through a U.S.-listed vehicle not only to hold BNB as a treasury but also to become the ‘Berkshire Hathaway’ of the BNB ecosystem. The company will dedicate capital and resources to actively foster ecosystem growth by investing in core technology development, providing grants for innovative projects, and supporting community initiatives.
While U.S.-listed, the company will leverage B Strategy’s extensive Asia-Pacific footprint—spanning Hong Kong, ASEAN, the Middle East, and other key markets—to access deep pools of liquidity, market intelligence, and distribution, enabling follow-the-sun execution and coverage for global investors. The initiative has already attracted strong regional backing, with several prominent Asia-based family offices serving as anchor investors in the initial funding.
B Strategy is led by an accomplished management team, including Leon Lu, Founder of B Strategy and co-founder of Metalpha Technology Holding Limited (Nasdaq: MATH) (“Metalpha”), where he stewarded a Bitmain-seeded crypto stocks fund that achieved a 276% return in approximately 24 months. Prior to his work in digital assets, Mr. Lu founded his own investment firms focusing on both public and private markets, and has experience at Morgan Stanley Securities (China) and Bernstein.
The team also includes Max Hua, Co-Founder of B Strategy and former CFO and rotating CEO of Bitmain, where he oversaw global finance and investment activities. Previously, he was a partner at Shearman & Sterling LLP, with 15 years of experience in capital markets and IPO advisory. Ni Ming, Partner at B Strategy, co-founded Metalpha and served as its COO, leading its U.S. listing company acquisition and global expansion. He also held senior roles at 36Kr (NASDAQ: KRKR) and Huarong International Financial Holdings, managing over HKD 10 billion in investments. Henry Wu, Partner at B Strategy, co-founded Ledger Capital and was formerly the China Head of Sir Terry Matthews’ family office.
“BNB is emerging as the cornerstone utility for the next generation of capital markets and financial systems, powering Web3 with unmatched trading volume, robust stablecoin integration, and growing real-world asset adoption. Its high on-chain usage and strong incentives for builders andusers are driving mass adoption,” said Ella Zhang, Head of YZi Labs. “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. YZi Labs is confident in supporting their mission to grow the BNB ecosystem together.”
“As a veteran in both crypto and traditional finance, we’ve seen how disciplined, transparent treasury vehicles unlock high-quality digital-asset exposure. By leveraging a publicly listed company, we will use our assets and resources to support an ecosystem that is already #1 in daily transaction value (12.5 million transactions/day) and #2 in dapps/projects. The listed company will hold and actively manage BNB as a core strategic asset with YZi Labs’ support, pursuing a ‘maximize BNB-per-share’ strategy,” said Leon Lu. “By combining our crypto-native expertise, APAC distribution, and U.S. public-market discipline, we believe now is the right time to establish a well-capitalized, institutionally managed, pure-play listed vehicle offering institutional investors access to the BNB ecosystem, connecting global investors with the innovation occurring on the BNB Chain.” he added.
“Drawing on my years working with the most prominent Bitcoin miners globally, I’ve seen the true scale of demands for industrial-grade governance, transparent reporting, and bank-level controls,” said Max Hua. “We’re bringing that operator’s discipline to the company: independently verified holdings, best-in-class custody, rigorous risk limits, and seamless cross-border processes so investors—from New York to Hong Kong—can access BNB with confidence and efficiency.”
A vast and dedicated BNB community has already formed, representing a powerful global network of users, developers, and enthusiasts. The company will emphasize transparency and verification of holdings, strong engagement with the BNB ecosystem and community, and expects to announce the closing of its related financing in the coming weeks.
About YZi Labs
YZi Labs manages over $10 billion in assets globally. Our investment philosophy emphasizes impact first—we believe that meaningful returns will naturally follow. We invest in ventures at every stage, prioritizing those with solid fundamentals in Web3, AI, and biotech.
YZi Labs’ portfolio covers over 300 projects from over 25 countries across six continents. More than 65 of YZi Labs’ portfolio companies have gone through our incubation programs. For more information, follow YZi Labs on X.
About B Strategy
B Strategy is a digital asset investment management firm that serves as a bridge between traditional and cryptocurrency investments. The firm specializes in innovative, risk-managed strategies within the blockchain and crypto sectors. Its mission is to connect institutional capital with high-quality opportunities through disciplined research, robust risk management, and institutional-grade execution. The team is led by executives with extensive experience in both crypto and traditional finance. For more information, follow B Strategy on X.