Schlagwort: crypto business

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Binance’s YZi Labs backs US based BNB treasury firm targeting IPO

  • YZi Labs backs first US-based BNB treasury firm by 10X Capital, which is targeting IPO.
  • Nano Labs recently purchased $50 million BNB tokens and plans to increase this to $1B BNB.
  • Binance Coin (BNB) has broken past $665, signalling a possible bullish move toward $733 target.

While Bitcoin (BTC) has historically led the charge in corporate treasury strategies, Binance Coin (BNB) is now positioning itself as the next major digital asset to capture institutional interest at scale.

Binance’s former CEO, Changpeng Zhao, through his venture YZi Labs, has backed the creation of a US-based treasury firm by 10X Capital solely focused on BNB.

With a growing appetite from institutions for regulated crypto exposure, the new BNB treasury company marks a pivotal moment in the evolution of altcoin adoption beyond its native exchange utility.

A first-of-its-kind BNB-focused treasury aiming for IPO

Backed by Binance’s former CEO Changpeng Zhao, YZi Labs has thrown its weight behind a first-of-its-kind BNB-focused treasury company in the United States.

The firm’s strategy involves launching an initial public offering (IPO) to allow traditional investors access to BNB without having to manage digital wallets.

The new treasury company plans to offer BNB-backed shares on a major US exchange, using a transparent structure that mirrors the reporting style of ETFs while maintaining regulatory compliance.

In this model, institutional investors will be able to gain BNB exposure through equity investments, providing a simplified path to crypto asset allocation.

YZi Labs, overseeing the execution of the strategy, will work alongside 10X Capital, which is handling asset management for the venture.

The leadership team behind the project adds significant institutional heft, including David Namdar, co-founder of Galaxy Digital, and Russell Read, former CIO of CalPERS and the Alaska Permanent Fund.

Their involvement reinforces the credibility of the initiative and underscores the strategic importance of BNB in broader financial portfolios.

Executives at YZi Labs revealed that they have engaged with over thirty other teams that are evaluating similar treasury models using BNB as the core asset.

BNB corporate accumulation

These developments come as Changpeng Zhao continues to demonstrate long-term conviction in BNB, holding 94 million coins as of June 2024, which accounts for 64% of its circulating supply.

Binance itself holds an additional 31.5%, indicating a high concentration of supply within a small network of stakeholders.

In addition, Nasdaq-listed Nano Labs recently invested $50 million to acquire over 74,000 BNB.

Nano Labs aims to scale this investment to as much as $1 billion in BNB, signalling an intent to hold up to 10% of the circulating supply.

The company’s aggressive treasury expansion is being financed through convertible notes and private placements, with shares surging following the announcement.

Other firms, including Build & Build Corporation and Trident Digital, are reportedly seeking significant Binance Coin (BNB) allocations as well, following a model similar to MicroStrategy’s Bitcoin strategy.

This wave of institutional buying reflects growing confidence in BNB’s long-term value beyond its role as a transaction token.

Binance Coin (BNB) price outlook

The market has responded to these strategic shifts with renewed optimism, as BNB recently broke above the $665 resistance level in a bullish ascending triangle pattern.

Whale accumulation has intensified in recent weeks, with on-chain data showing over 2.5 million active BNB smart chain addresses — a sign of strong demand and network engagement.

active-bnb-smart-chain-adresses

If momentum continues, analysts expect the token to move toward $733, with key support seen at $635, which must hold for the breakout to remain valid.

BNB is now trading around $670, which places it just 15% below its all-time high of $788 reached in December 2024.

With a market cap nearing $98 billion, BNB has solidified its position as a top-five cryptocurrency and is increasingly being seen as more than just a utility token.

For traders and investors, this moment represents more than a price move; it signals the arrival of BNB into the formal structure of traditional finance.

The post Binance’s YZi Labs backs US based BNB treasury firm targeting IPO appeared first on CoinJournal.

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What next for Bitcoin after hitting a new all-time high? Check forecast

Key takeaways

  • Bitcoin hit a new all-time high of $112k after adding 3% to its value on Wednesday.
  • The coin could rally towards $115k-$120k if macro conditions remain favorable and price action holds.

Bitcoin hits a new all-time high

Bitcoin, the leading cryptocurrency by market cap, surged to a new all-time high price on Wednesday after adding 3% to its value. The new Bitcoin all-time high now stands at $112,128 as analysts predict the coin to hit between $115k and $120k over the coming weeks or months.

The positive performance comes amid growing institutional demand. Recent reports reveal that spot Bitcoin ETFs now have nearly $150 billion in assets under management (AUM).

Furthermore, an increasing number of companies are adding Bitcoin to their balance sheets. Strategy, Metaplanet, and GameStop are the biggest corporate Bitcoin adopters, but more companies are now implementing Bitcoin treasuries.

BTC could surge to $115k

The BTC/USD 4H chart is bullish but inefficient after Bitcoin rallied to a new all-time high. This means that Bitcoin could temporarily dip to the $109,700 level to grab liquidity before rallying higher. 

The Relative Strength Index (RSI) of 65 shows that Bitcoin is currently in a buying spree, but investors could push it higher. Furthermore, the MACD lines are in the positive zone, suggesting a bullish bias.

BTC/USD 4H chart

If Bitcoin rallies higher and $112K becomes support, the rally could extend toward $116K–$120K. Supporting confluences for this rally include a clean break of all-time high, continued accumulation by institutions, lack of major resistance until $115k psychological level, and the 4-Hour Fair Value Gap ($109,800-$110,800) remaining intact.

However, if the rally stalls at the all-time high levels, we may see a correction. The failed breakout above $112,000 with no sustained momentum could see BTC dip lower. If that happens, the 4H FVG around $109k would not provide any major support, and BTC could drop to the $108k level.

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GMX price dives 20% after $40 million hack

  • GMX price fell 20% after the decentralised perpetuals exchange suffered a $40 million exploit on its V1 platform.
  • Investor panic and concerns over repeated security incidents put bulls under pressure near $11.45.
  • GMX’s response to stabilise confidence and mitigate further losses will be key.

GMX, an on-chain perpetual and spot exchange, experienced a substantial security breach.

The exploit, which resulted in the loss of approximately $40 million, has triggered a sharp decline in the value of the GMX token.

As far as hacks go, this incident further underscores the dangers and impact of persistent vulnerabilities within the decentralised finance space.

Prices have often dipped sharply amid such news.

GMX hacked for $40 million

On July 9, 2025, GMX announced that its V1 platform and GLP liquidity pool on the Arbitrum network were compromised, leading to the unauthorised transfer of around $40 million in tokens to an unknown wallet.

The GMX team detailed in a post by X that, following the incident, trading, minting, and redeeming of GLP on both Arbitrum and Avalanche were disabled to mitigate further risks.

SlowMist also highlighted the exploit, noting on X:

“The root cause of this attack stems from GMX v1’s design flaw where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”

By leveraging the Keeper’s ability to enable timelock.enableLeverage, the attacker created massive short positions, artificially inflating GLP prices, and subsequently profited through redemption operations.

The highlighted code snippet from the post illustrates the critical section where global short profit/loss calculations were exploited, enabling the manipulation.

GMX’s response included a commitment to investigate the incident with the assistance of security partners, promising a detailed update.

“Out of an abundance of caution, GMX had already updated the caps for the GM tokens of GMX V2 on Arbitrum and Avalanche, so that minting new tokens is currently restricted in most liquidity pools. A follow-up notification will be sent out once this restriction is lifted,” the platform wrote.

GMX price dives 20% amid market reaction

The reaction of GMX holders to the hack was largely negative, with the price falling sharply to see the DEX protocol lag the overall crypto bounce.

According to data from CoinMarketCap, the GMX token experienced a double-digit decline.

It traded above $14.54 but dropped more than 20% to lows of $10.40.

GMX price chart by CoinMarketCap

The breach of GMX adds to the list of key crypto protocol exploits in 2025, with Cetus Protocol among those to suffer a malicious attack a few months ago.

Unless GMX successfully recovers the funds or implements robust security enhancements, the negative sentiment could impact its price.

Currently, the GMX token trades near $11.45, still under pressure after falling from highs above $14.54.

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Elon Musk’s tweet reignites interest in Peanut the Squirrel (PNUT) memecoin

  • Elon Musk’s tweet has triggered a sharp rally in Peanut the Squirrel (PNUT) memecoin.
  • PNUT trading volume has also surged over 150% to $273 million.
  • Analysts predict a potential 654% breakout for PNUT.

Elon Musk has once again ignited a crypto market frenzy, this time by reviving interest in an unlikely memecoin, Peanut the Squirrel (PNUT).

A single post on X, formerly Twitter, triggered a sharp rally in the price of the Solana-based token, causing both volume and open interest to surge in a matter of hours.

The coin, previously flying under the radar, soared after Musk made a veiled yet sarcastic remark referencing a controversial incident involving a squirrel named Peanut and a broader jab at US authorities.

The viral tweet by Elon Musk that sent PNUT flying

The sudden spike in PNUT’s price came shortly after Musk posted on X, expressing his frustration that no one from Jeffrey Epstein’s alleged list had been arrested, while also referencing the euthanisation of a squirrel named Peanut.

His mention of Peanut reignited sympathy and outrage from a previous incident during the Biden presidency, when the squirrel was reportedly taken from its owner and put to sleep, sparking widespread backlash and recurring mentions by Musk.

In his latest post, the Tesla and SpaceX CEO once again used the word “Peanut,” a move that historically precedes market reactions among memecoin enthusiasts.

This particular tweet caused the PNUT token to leap over 10%, peaking at $0.235 before slightly pulling back to around $0.2193.

Peanut the Squirrel (PNUT) volume spikes as traders pile in

Speculative interest exploded shortly after Musk’s post, with PNUT’s daily trading volume surging by over 150% to reach $273 million.

This dramatic increase highlights the strong influence Musk continues to wield over digital assets, especially low-cap, narrative-driven tokens.

Open interest in PNUT futures also rose by 14%, hitting $132 million, suggesting that traders are becoming increasingly bullish about the coin’s short-term trajectory.

The trading frenzy comes despite the fact that PNUT has no formal utility, roadmap, or protocol backing — its popularity rests entirely on its meme appeal and Elon Musk’s unpredictable support.

Analyst predicts massive upside potential for PNUT

At the time of writing, Peanut the Squirrel (PNUT) was trading at $0.2193, reflecting a modest gain of 1.3% over the past 24 hours but still far below its all-time high of $2.44 recorded in November 2024.

The coin’s price has fluctuated within a daily range of $0.2128 to $0.2386, with its seven-day range stretching from $0.2104 to $0.2536.

Despite the recent rally, the token remains down more than 90% from its peak, though it has gained over 580% from its all-time low of $0.03187.

While some observers dismissed the rally as another short-lived meme coin bubble, technical analysts have started taking notice of PNUT’s price action.

Crypto analyst Javon Marks shared his outlook on X, projecting a potential 654% rally that could see the token break out toward a target of $1.7907.

According to Marks, key indicators suggest that bullish momentum remains intact, setting the stage for further gains if sentiment holds.

This forecast, though speculative, has attracted fresh attention from retail traders eager to ride the next meme coin wave.

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South Korea’s crypto reform plans offer tax cuts and funding access to companies

  • The move would give digital asset firms access to tax breaks and state funding.
  • Dunamu paid ₩24 billion in taxes after losing venture status in 2018.
  • Policy is part of President Lee’s pro-crypto economic strategy.

South Korea is moving to formally recognise crypto businesses as venture companies, a decision that could give the industry access to tax relief, government-backed loans, and startup funding for the first time.

The Ministry of SMEs and Startups has introduced a proposal to reclassify virtual asset firms, removing them from a list of restricted industries that includes gambling and nightlife.

If passed, the policy would reverse a long-standing rule that has blocked crypto startups from the country’s thriving venture ecosystem.

This legislative push follows years of regulatory exclusion, with one major flashpoint in 2018. Dunamu, the parent company of crypto exchange Upbit, lost its venture status and was forced to pay ₩24 billion ($18 million) in taxes.

Dunamu challenged the decision in court but lost, highlighting the financial consequences of South Korea’s previous stance.

The ministry now says it wants to acknowledge the innovative and entrepreneurial qualities of crypto companies, bringing them in line with other emerging technology sectors.

New law aligns with Seoul’s broader pro-crypto pivot

The proposal marks a significant departure from previous policy. Until now, crypto-related businesses have been grouped with sectors barred from receiving government support.

The proposed revision would remove virtual asset firms from this restricted category, allowing both new and existing startups to register as venture businesses without risking their certification.

The ministry argues that the new framework will expand South Korea’s venture ecosystem and promote growth in the blockchain and crypto industries.

Public feedback on the draft law is being collected until 18 August 2025, signalling the beginning of a formal legislative process.

If enacted, it would enable crypto firms to access the same support tools—such as tax cuts, subsidies, and loan guarantees—that are currently available to other recognised startups.

The change could also benefit companies that already hold venture status and want to expand into crypto, which previously risked losing their designation if they added digital asset operations to their business models.

President Lee’s crypto policies begin taking shape

The venture company proposal is one of several initiatives under President Lee Jae Myung’s new administration. Since taking office last month, Lee has made digital assets a cornerstone of his economic strategy.

His government is supporting the approval of spot Bitcoin exchange-traded funds (ETFs), exploring a won-based stablecoin, and reviewing the ongoing ban on institutional trading of cryptocurrencies.

Major South Korean banks are already responding. Some have filed trademarks for stablecoin products, while others are working on blockchain infrastructure and digital wallet services.

Industry legitimacy and investment may follow

The proposed legal amendment could have wide-reaching effects beyond tax incentives.

Recognising crypto firms as venture companies may lend credibility to an industry that has long operated on the fringes of formal finance in South Korea.

Greater legitimacy could attract institutional investors, encourage new business formation, and reduce compliance-related friction.

It may also align South Korea with other markets advancing similar policies, such as the European Union’s MiCA framework and Japan’s reforms to allow limited crypto fundraising.

With venture-backed crypto projects potentially gaining access to bank loans and innovation grants, the ecosystem may see accelerated development and a stronger foothold in South Korea’s broader tech economy.

Public submissions on the proposal are currently open, with final decisions expected later this year.

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