BlockBeats News, October 13th, Bloomberg revealed “Huaxin Capital Plans to Raise About $600 Million in Special Investment in BNB, YZi Labs Expected to Participate Jointly” related details. According to a source close to the Huaxin Capital transaction, YZi Labs under CZ held a bullish executive dinner on BNB at the Shangri-La Hotel in Singapore in early October, and representatives from Huaxin Capital and other companies involved in setting up the BNB Treasury also attended. The event was called “BNB Vision Circle: Igniting the Next Trillion.” Ella Zhang, head of YZi Labs, served as the host of the event. As one of China’s most prominent bankers, Huaxin Capital founder Bob Fan had previously disappeared from public view for over two years due to an investigation, resigned as chairman and CEO of Huaxin Capital in February 2024, and was released in August this year.
The source said that both parties will jointly invest $200 million in the transaction. Huaxin Capital previously stated in an August document that it would invest about $100 million in BNB tokens. YZi Labs’ spokesperson declined to comment on this, and Huaxin Capital did not respond to a comment request either. If the fundraising is successful, the $600 million will be used to establish a Cryptocurrency Reserves (DAT) company in the United States for investing in BNB.
