PANews reported on July 10 that according to Cointelegraph, YZi Labs, the family office of Binance co-founder Zhao Changpeng, will support investment institution 10X Capital to establish an asset management company focusing on BNB and plans to list it on major US exchanges. The company is called "The BNB Treasury Company" and is headed by former Galaxy Digital co-founder David Namdar as CEO. The statement said that the planned "The BNB Treasury Company" is expected to announce the completion of relevant financing "in the coming weeks."