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Binance coin price rises 9% as China Renaissance eyes $600M treasury

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Binance coin price rises 9% as China Renaissance eyes $600M treasury

China Renaissance bank is reportedly interested in raising about $600 million to establish a Binance coin crypto treasury, with possible financial support from YZi Labs. Summary China Renaissance is reportedly planning to launch a $600 million public fund focused on Binance Coin, in collaboration with Changpeng Zhao’s family office YZi Labs. BNB’s price briefly surged over 9% to $1,366 before stabilizing around $1,289, as traders responded positively to the news and broader market corrections took hold. A recent report by Bloomberg revealed that the Chinese investment bank is planning to establish a public fund with the aim of investing millions into BNB. According to inside sources, Changpeng Zhao’s family office YZi Labs, plans to invest alongside China Renaissance, with a combined commitment amounting to $200 million. If the Beijing-based bank does manage to raise as much as $600 million, the money would be used to establish a digital asset treasury firm located in the United States. The company will be publicly listed and will start accumulating the BNB token gradually. After the report went live, price of Binance coin (BNB) jumped as high as $1,366, going up by more than 9% in the past 24 hours just moments after the news broke. Unlike Bitcoin (BTC), which has seen more than 340 corporate treasury firms stockpiling the asset, BNB treasury companies are still a relatively new addition to the market. So far there are only two entities that hold BNB as a main treasury asset, which are the United States-based firm CEA Industries and China’s Nano Labs. According to data on CoinGecko, the combined holdings of CEA Industries and Nano Labs have reached a total of 608,000 BNB or equal to $794.3 million based on current market prices. So far, corporations only hold about 0.44% out of the total circulating BNB supply. You might also like: BNB price makes strong recovery after weekend crash, CZ downplays market maker role Back in August, China Renaissance revealed that it had signed a cooperation memorandum with YZi Labs to start investing in Binance Coin. The deal would see China Renaissance committing $100 million of its corporate funds to purchasing the BNB asset. Based on the agreement, YZi Labs will act as a strategic advisor to the treasury firm. If the bank decides to spend $600 million of its fund to purchase BNB, it stands a chance to become the largest Binance coin treasury in the world. Not only that, it will also become the first company on the Hong Kong exchange to hold BNB directly on its balance sheet. Binance coin price analysis The recent announcement that China Renaissance plans to raise $600 million to establish a public investment fund focused on BNB has sparked renewed optimism in the market. The move underscores growing institutional interest in Binance’s ecosystem and positions BNB as a strategic asset within China’s expanding digital finance landscape. So far, traders have initially responded positively to the news, driving a brief price spike before broader market corrections took hold. At press time, Binance Coin is trading at around $1,289, having seen modest gains of around 5.7% in the past 24 hours. After a sharp rally earlier in the week, the token experienced a pullback from its recent high near $1,350, as traders locked in profits. Binance coin experienced a spike in value following news of China Renaissance’s plan for a BNB crypto treasury | Source: TradingView The token’s 30-period moving average currently stands at $1,278.9. The 30-day MA serves as the short-term support, suggesting that the overall uptrend remains intact despite minor corrections. Meanwhile, the Relative Strength Index has cooled down from overbought levels above 70 to around 51.78, reflecting a slowdown in bullish momentum. This suggests that the asset could be consolidating before making its next decisive move. If BNB manages to stay above the MA line, it may attempt another breakout toward the $1,350 to $1,400 resistance zone. However, failure to maintain the price above the $1,275 level could expose the coin to a deeper correction, which could potentially drag it back towards the $1,200 level. You might also like: BNB X account hacker’s meme coin “4” briefly soars 500%

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