Comparison of BNB and SOL reserve companies: Which side are Asia and Wall Street in the United States on?

The rise of digital asset treasury (DAT) companies, the BNB camp dominated by Asian capital, and the SOL camp driven by Wall Street institutions in the United States, the two have different funding sources, compliance paths and ecological orientation. (Synopsis: Hong Kong stock “BNB Micro Strategy” was born!) China Renaissance Capital Joins Forces with YZi Labs to Invest $100 Million to Build BNB Vault) (Background added: Solana rushed to $216 to hit a new high since February, SOL Vault can push the coin price to exceed 300 magnesium? The rise of crypto “treasury” companies In recent years, a number of “digital asset treasury” (Digital Asset Treasury (DAT) listed companies) have emerged in the capital market: through additional issuance or private placement, cash or equivalent digital assets are included in the balance sheet and held for a long time, and in some cases, pledge, node and liquidity management are also supported. The forerunner launched the Bitcoin asset allocation ( for MicroStrategy in )2020, providing a replicable paradigm for “company-level holding”; This was followed by the exploration of corporatized configuration ETH on the Ethereum side, and the DAT narrative was extended from BTC to ETH. Since then, this path has further spilled over to BNB and SOL, and gradually showed regional differentiation: the former is dominated by Binance ecology and Asian capital; The latter is mainly led by institutional investors in the United States, and is structured by Wall Street investment banks through M&A/backdoor purchases, PIPEs and transferable/warrants. BNB Camp: Asian Capital's “Treasury Alliance” Digital asset treasury with BNB as the core reserve (DAT) is accelerating the launch and layout: Bhutan Special Administrative Region Grep Mindfulness City (Gelephu Mindfulness City, GMC) Announced the inclusion of BTC, ETH, BNB into the region's strategic reserve assets, becoming one of the pioneers in the inclusion of digital assets in official reserves. CZ then said that this is not a single Bitcoin reserve, but a multi-currency reserve including ETH and BNB, a move that opens the door for more jurisdictions to include digital assets such as BNB in their strategic reserves. Nano Labs revealed that its BNB holdings have increased to 128,000 coins ( of which 8,000 have recently been allocated through OTC, with an average purchase price of about $801 per coin and a combined average cost of about $713 per coin ), and proposes a “multi-pronged” reserve path: continue to accumulate BNB, acquire a controlling stake in a company focused on BNB reserves, and invest in BNB to strengthen its strategic position in the BNB ecosystem. At the same time, Nano Labs entered into an equity investment arrangement with CEA Industries: 495,050 shares were subscribed for at US$10.10 per share and 495,050 warrants of US$15.15 per share; The transaction is part of CEA's $500 million PIPE, which raised funds primarily to purchase BNB. CEA Industries ( Nasdaq: VAPE) and 10X Capital announced the completion of a $500 million private placement with strategic support from YZi Labs ( of which $400 million will be cash and $100 million will be crypto asset ). Plans to build the largest publicly traded treasury company focused on BNB Chain; If the matching warrants are fully exercised, the overall financing ceiling can be extended to US$1.25 billion. The company will change its name to BNB Network Company on August 6, the stock symbol will be changed to BNC, and 10X Capital will act as the strategic asset manager of the treasury, involving more than 140 institutions and individuals ( including Pantera, GSR, dao5, Arrington, Blockchain.com and Bitfury Founder et al. ), David Namdar (Galaxy co-founder of Digital and senior partner of 10X Capital ) as CEO. Subsequently, BNC first disclosed that BNB held 325,000 coins ( adding 125,000 ) from the previous 200,000, and then updated to more than 350,000, and said that it would continue to expand its positions and launch products and services to institutions. Liminatus Pharma announces the creation of an American BNB Strategy subsidiary to raise and invest up to $500 million in BNB, positioning it for long-term asset allocation rather than short-term speculation, and plans to adopt Ceffu's institutional-grade custody infrastructure. The company simultaneously promotes compliance review and related approval processes, aiming to improve the resilience of its balance sheet and the flexibility of shareholder returns while supporting its main business such as tumor immunotherapy. Windtree Therapeutics signs an equity line of credit of up to $500 million (ELOC) and a separate $20 million share purchase agreement, revealing that approximately 99% of the proceeds will be used to purchase BNB; The activation of ELOC is subject to the approval of additional issuance by shareholders. It was subsequently delisted for non-compliance with the minimum purchase price requirement 5550(a)(2) ( the NASDAQ Listing Rules ) and subsequently transferred to OTC trading, However, the company said that the change would not affect its established business and information disclosure arrangements. China Renaissance Capital and YZi Labs signed a strategic cooperation memorandum: it intends to allocate about US$100 million of BNB in self-operation; While promoting the listing of BNB on a licensed and compliant virtual asset exchange in Hong Kong, it will work with ecosystem partners to plan RWA funds with a scale of hundreds of millions of US dollars; The two parties will provide strategic and resource empowerment around project docking, brand and market support, financial product design and capital market collaboration. ( The memorandum is a framework and non-binding document, and the subsequent formal agreement shall prevail ). With the strategic support of YZi Labs, B Strategy is preparing a US-listed treasury company for BNB, with a target size of US$1 billion, positioning itself as a two-wheel drive of “holding + ecological investment”, and clearly putting forward the capital management goal of “maximizing BNB-per-share”; The company's management comes from a background in crypto and traditional investment banks/law firms, and intends to undertake global funds as a public listing vehicle, emphasizing independent custody, verifiable positions and transparent disclosure. As a multi-asset sample, The Brooker Group recently disclosed that it holds 43,022.4 BNBs; According to the company's financial report, the main source of the increase in digital asset inventory during the period was “earned income” rather than new investment purchases, and at the same time held BTC, ETH, SOL, etc. in the asset portfolio. Amber International cooperated with Hash Global to launch BNB Fund to provide institutional investors with native income products for BNB on-chain scenarios; At the same time, Amber International completed a $25.5 million private placement at an offering price of $10.45 per share, a discount of about 5% to the three-day average price, and its $100 million crypto ecosystem reserves expanded to BNB, XRP, SUI on the basis of the original BTC, ETH, SOL, to strengthen the relationship with the BNB ecosystem.