A state-backed crypto fund just made its first buy — and it wasn’t Bitcoin — TradingView News
Kazakhstan launches state-backed fund
Kazakhstan has launched the Alem Crypto Fund, a state-backed initiative aimed at building long-term digital asset reserves. Managed by Qazaqstan Venture Group and operating under the AIFC, the fund marks a significant step in the country’s regulated adoption of blockchain-based investments.
Surprisingly, the fund’s inaugural purchase was not Bitcoin 
BTCUSD but BNB 
BNBUSD, the native token of the BNB Chain. Through a strategic partnership with Binance Kazakhstan, a local entity licensed under the Astana International Financial Centre (AIFC) regime, the fund was able to secure custody and align with compliance frameworks from the outset.
Former Binance CEO Changpeng “CZ” Zhao publicly…
