Bloomberg: Huaxing Capital Once Took Part in BNB Moon Party, YZi Labs to Jointly Contribute $200 Million

On October 13th, Bloomberg disclosed "Huaxin Capital Aims to Raise Approximately $600 Million in Special Investment for BNB; YZi Labs Expected to Participate Jointly" with relevant details. According to a source familiar with the Huaxin Capital transaction, YZi Labs under CZ held a bullish executive dinner regarding BNB at the Shangri-La Hotel in Singapore in early October. Representatives from Huaxin Capital and other companies involved in setting up the BNB Treasury also attended this event, which was named "BNB Vision Circle: Igniting the Next Trillion." Ella Zhang, the head of YZi Labs, served as the host. As one of China's most prominent bankers, Huaxin Capital founder Bob Fan had previously been out of the public eye for more than two years due to an investigation. He resigned as the chairman and CEO of Huaxin Capital in February 2024 and was released in August of this year. The source stated that both parties will jointly invest $200 million in the transaction. Huaxin Capital had previously stated in an August document that it would invest about $100 million in BNB tokens. A spokesperson for YZi Labs declined to comment on this, and Huaxin Capital did not respond to a request for comment either. If the fundraising is successful, the $600 million will be used to establish a Cryptocurrency Reserves (DAT) company in the United States for investing in BNB.