Bloomberg: Huaxing Capital Previously Participated in BNB Moon Party, YZi Labs to Co-Invest $200 Million

BlockBeats News, October 13th, Bloomberg revealed "Huaxin Capital Plans to Raise Around $600 Million for Special Investment in BNB, YZi Labs Expected to Participate Jointly" with details. According to a source close to the Huaxin Capital transaction, CZ's YZi Labs held a bullish executive dinner for BNB at the Shangri-La Hotel in Singapore in early October, with Huaxin Capital and other participants establishing the BNB Treasury sending representatives. The event was called "BNB Vision Circle: Igniting the Next Trillion." YZi Labs' leader Ella Zhang hosted the event. Huaxin Capital is one of China's most renowned investment banks, and at the end of June, its board of directors decided to enter the Web3.0 and cryptocurrency asset field while consolidating Huaxin's existing business.

The source stated that both parties will jointly invest $200 million in the transaction. In a document released in August, Huaxin Capital stated that it would invest around $100 million in BNB tokens. YZi Labs' spokesperson declined to comment on this matter, and Huaxin Capital did not respond to a comment request. If the fundraising is successful, the $600 million will be used to establish a Cryptocurrency Reserve (DAT) company in the United States for investing in BNB.