Binance Coin (BNB) Price: CZ Family Office Backs New $1 Billion Treasury Initiative

TLDR

  • B Strategy plans to launch a $1 billion BNB treasury backed by Binance founder CZ’s family office YZi Labs
  • The treasury will follow a similar structure to 10X Capital, which recently raised $250 million to hold BNB
  • BNB currently trades at $876.94, near its 52-week high with analysts targeting $920 within 30 days
  • Companies adopting BNB as a reserve asset have seen dramatic stock price increases (CEA Industries up 550%)
  • BNB remains the fourth-largest cryptocurrency with a $120.3 billion market cap and strong ecosystem utility

Binance Coin continues to attract major institutional interest as another billion-dollar treasury initiative gains backing from the family office of Binance’s founder. This development comes as the token trades near yearly highs with strong technical indicators supporting further upward movement.

B Strategy, founded by former Bitmain executives, has announced plans to launch a $1 billion crypto treasury focused on BNB, the native token of the Binance ecosystem.

The treasury will receive backing from YZi Labs, the family office of Binance co-founder Changpeng Zhao (CZ).

This new initiative follows a similar structure to 10X Capital, which recently secured $250 million in funding with YZi Labs’ support to accumulate BNB as a long-term reserve asset.

According to a B Strategy spokesperson, the company plans to collaborate with a US-listed company through a private placement. Following the capital injection, the listed company will purchase BNB and transition its business model to focus on holding and managing BNB assets.

“We aim to serve as a bridge between the US and Asian markets,” the representative stated. “There is demand from Asian investors seeking access to the US stock market, and they trust our team to help manage their investments within this treasury strategy.”

YZi Labs, formerly known as Binance Labs, operates under the leadership of Ella Zhang with oversight from Zhao.

Market Response to BNB Treasury Trend

Companies embracing BNB as a reserve asset have emerged in recent months, with investors showing strong interest through stock performance.

Shares of CEA Industries surged 550% after the company unveiled plans for a BNB treasury.

BMB Network Company’s $500 million BNB treasury vehicle was oversubscribed in its latest funding round.

These developments highlight growing institutional interest in holding BNB as a strategic asset.

BNB currently ranks as the fourth-largest cryptocurrency by market capitalization, worth $120.3 billion. Beyond trading, the token serves multiple functions within the Binance ecosystem, including paying transaction fees, participating in staking, and engaging in governance.

Forbes reported in June 2024 that Zhao controlled approximately 64% of the entire BNB supply, giving him substantial influence over the token’s distribution and strategic direction.

Technical Analysis Points to $920 Target

Current technical indicators support a bullish outlook for BNB price. The token trades at $876.94, positioning near its 52-week high of $900.21.

BNB Price on CoinGecko
BNB Price on CoinGecko

The Relative Strength Index (RSI) sits at a neutral 61.23, indicating room for upward movement without reaching overbought conditions that typically signal price tops.

The MACD shows bullish momentum with the histogram at 1.7616. The MACD line trades above the signal line, confirming positive momentum continuation.

Trading volume reached $247.9 million over 24 hours, supporting the validity of current price levels.

The token trades within Bollinger Bands at 0.8018, near the upper band at $903.84, suggesting strong buying pressure without extreme overbought conditions.

Analysts project a $920 target within 30 days based on technical momentum. The primary resistance level sits at $900.71, just above current trading ranges.

A successful break above $905 could trigger momentum buying toward the $920-$950 range, requiring sustained momentum and broader cryptocurrency market strength.

Key support levels include the 20-day moving average at $835.97. Conservative entry points exist around the $860-$865 range for better risk-reward positioning.

The BNB price currently sits at $840.94 according to the most recent data.

The post Binance Coin (BNB) Price: CZ Family Office Backs New $1 Billion Treasury Initiative appeared first on Blockonomi.

Source: https://blockonomi.com/binance-coin-bnb-price-cz-family-office-backs-new-1-billion-treasury-initiative/