China Renaissance Raises $600M for BNB Treasury as Binance Token Soars

China Renaissance Holdings, a prominent investment bank based in Beijing, is raising an ambitious $600 million to establish a dedicated digital-asset treasury focused on BNB. This move follows the token’s surge beyond XRP and into fourth place by market capitalization. The initiative will be supported by YZi Labs, Changpeng Zhao’s family office, and aims to create a publicly listed vehicle in the United States for acquiring and holding this cryptocurrency. 10% of the fund will be contributed by China Renaissance while the remaining $400 million will come from institutional backers and individual investors.