Bloomberg: China Renaissance Capital participated in the BNB Bullish Dinner, YZi Labs will co-invest $200 million

BlockBeats News, October 13, Bloomberg disclosed "China Renaissance plans to raise about $600 million for a dedicated BNB investment, YZI Labs expected to participate" with related details. According to a person familiar with the China Renaissance deal, YZi Labs, under CZ, hosted a bullish BNB executive dinner at the Shangri-La Hotel in Singapore in early October. Representatives from China Renaissance and other companies involved in establishing the BNB treasury also attended. The event was called "BNB Visionary Circle: Igniting the Next Trillion." Ella Zhang, head of YZi Labs, served as the host at the event. As one of China's most renowned bankers, China Renaissance founder Bao Fan had disappeared from public view for more than two years due to an investigation, resigned as chairman and CEO of China Renaissance in February 2024, and was released in August this year.

According to sources, both parties will jointly invest $200 million in the deal. In a document from August, China Renaissance stated it would invest about $100 million in BNB tokens. YZi Labs' spokesperson declined to comment, and China Renaissance did not respond to requests for comment. If the fundraising is successful, the $600 million will be used to establish a crypto reserve (DAT) company in the United States to invest in BNB.