Former Binance CEO and founder Changpeng Zhao is cheering the growing institutional spotlight on BNB as more firms move to tap the token as a reserve asset.
In a July 24 X post, Zhao praised China-based Labs cryptocurrency-mining chip designer Nano Labs for its vision to launch a BNB (BNB) focused strategic reserve.
The Binance founder’s applause follows Nano Labs’ announcement earlier that day of a $500 million convertible note raise, with plans to acquire up to $1 billion worth of BNB over time. According to the company, it aims to hold 5% to 10% of BNB’s total circulating supply and position the token as a long-term treasury asset.
While CZ clarified that neither he nor any affiliated entities took part in the raise, he described the move as a major vote of confidence for BNB’s future and expressed support for the vision.
The comments build on his previous nod to a similar initiative. Former Coral Capital Holdings executives were recently reported to be raising $100 million through a Nasdaq-listed entity to accumulate BNB as part of a similar institutional reserve strategy.
“BNB ‘MicroStrategy’ coming to a company near you!” cheered the Binance founder. He further emphasized that more institutions around the world are mulling the same idea, adding that the rising interest may soon mark a turning point for the token.
A new narrative for BNB?
Institutional adoption played a defining role in Bitcoin’s rise, and a similar wave of interest may now be forming around BNB.
Still, doubts remain. Although BNB is described as a public, blockchain-native token not affiliated with Binance, its ties to the exchange have long weighed on its image. This is largely due to the exchange’s regulatory troubles and lingering concerns about the token’s distribution and decentralization, fueling investor skepticism.
That cautious sentiment is reflected in BNB’s stunted growth over the past year, lagging behind many of its peers in both performance and market enthusiasm. However, some believe that the recent wave of institutional interest could promote adoption, helping it carve out an identity beyond Binance’s shadow.
