China Renaissance is creating a $600 million BNB treasury.

China Renaissance, a Hong Kong-based investment bank, plans to raise $600 million to create a public crypto treasury focused on BNB. BNB is the native token of the BNB Chain and is widely used to provide discounts on Binance trading fees.

If this project is successfully completed, it is expected to be the largest single investment in BNB made by a publicly traded asset. Currently, one of the largest BNB-focused treasuries is owned by CEA Industries, which has reached a total holding of 480,000 tokens.

According to sources reported by Bloomberg regarding the deal, the proposed investment vehicle will be established in the United States and structured as a publicly traded company designed to directly purchase and hold BNB. Additionally, YZi Labs, acting as the family office of Changpeng Zhao, plans to co-invest in this project alongside China Renaissance.

BNB has doubled its price this year and has quickly recovered from the recent $500 billion crypto market crash. Zhao's family office has reportedly continued to actively generate investor interest and recently hosted a dinner in Singapore titled "BNB Visionary Circle: Igniting the Next Trillion". This event demonstrates a sustained appetite for BNB-focused investments. In recent weeks, the price of BNB has increased by 5.4%. During this period, significant tokens like Bitcoin and Ethereum have shown relatively poor performance. On the other hand, the broader market has experienced a decline of 8.45% over the last week, as measured by the CoinDesk 20 (CD20) index.