news.bitcoin.com
China Renaissance Holdings Ltd. is reportedly in talks to raise about $600 million for a public investment vehicle focused on a cryptocurrency tied to Binance Holdings Ltd., Bloomberg reporters Haze Fan, Muyao Shen, and Suvashree Ghosh reported, once again, citing “people familiar with the matter.”
Bloomberg Claims China Renaissance Is Moving Into a Binance-Linked Token Market With $600M Raise
The Beijing-based investment bank, whose former chairman Bao Fan was released from detention in August, is allegedly seeking to create a U.S.-listed “digital-asset treasury company” dedicated to accumulating BNB, the token associated with Binance. Bloomberg reports that the model mirrors that of Michael Saylor’s bitcoin-focused firm Strategy Inc., whose aggressive crypto hoarding spurred similar initiatives across the sector.
According to the reporters’ sources, YZi Labs — the family office of Binance co-founder Changpeng Zhao — is planning to invest alongside China Renaissance. Together, the pair intend to commit $200 million of the total raise, with China Renaissance contributing about $100 million directly to BNB holdings. BNB is currently trading for $1,268 per coin, up more than 35% since last month.
The report further notes that in early October, YZi Labs hosted a private “ BNB Visionary Circle” dinner at Singapore’s Shangri-La Hotel, attended by executives involved in other BNB treasury formations. BNB, originally launched by Binance in 2017, has more than doubled in value this year, repeatedly testing record highs this past week.
If successful, the new $600 million vehicle would further cement the growing institutional demand for BNB, signaling a broader appetite among Chinese financial players for public crypto exposure. Haze Fan, Muyao Shen, and Suvashree Ghosh stated that both YZi Labs and China Renaissance declined to comment on Bloomberg’s report.
🧠 FAQ
- What is China Renaissance raising funds for? — A $600 million public investment vehicle dedicated to BNB, the Binance-linked cryptocurrency.
- Who is partnering with China Renaissance? — YZi Labs, the family office of Binance co-founder Changpeng Zhao.
- How much will China Renaissance invest directly? — The bank plans to contribute about $100 million in BNB.
- Why is this deal significant? — It could mark one of the largest institutional BNB investments and signals renewed crypto interest in Asia.