China Renaissance Holdings Ltd. is seeking to raise approximately $600 million to establish a digital-asset treasury focused on the BNB token, according to sources familiar with the matter, Bloomberg said in a report.
The initiative involves a strategic partnership with YZi Labs (formerly Binance Labs), the family office of Binance co-founder Changpeng Zhao (CZ). The move comes shortly after the Beijing-based investment bank saw the return of its founder, Bao Fan, who had previously been detained.
China Renaissance and YZi Labs are expected to contribute an initial $200 million to the venture. The remaining capital will be sourced from a combination of institutional backers and public investors.
If finalized, the funds will be used to launch a publicly listed vehicle in the US dedicated to acquiring and holding BNB. This strategy would emulate the growing crypto treasury model, which is increasingly being adopted for corporate balance sheet management. China Renaissance had previously signaled its crypto ambitions in an August filing, disclosing plans to invest about $100 million directly in BNB.
The news of the large-scale investment initiative coincides with strong technical signals suggesting the BNB token may be poised for a significant price surge.
Trading at $1,319 at the time of writing, BNB is up nearly 8% in the last 24 hours. While the altcoin recently established a new peak at $1,375, technical analysis based on the volume profile indicator suggests that bulls currently control the third-largest crypto by market capitalization and are actively engaging at current price levels.
