Crypto Comeback? China’s Top Banker Bets Big on $600M Binance Token Deal
This article first appeared on GuruFocus.
China Renaissance Holdings Ltd. (CSCHF) is edging back into the global spotlight with a bold crypto move that could redefine its post-crisis identity. The Beijing-based investment bank, once led by Bao Fan before his two-year disappearance and resignation in early 2024, is reportedly working to raise about $600 million for a US-listed digital asset company built to accumulate the BNB token. The venture could be China Renaissance’s biggest bet yet in the digital-finance space, positioning it alongside YZi Labsthe family office of Binance co-founder Changpeng Zhaoas a co-investor. Together, the two groups may inject roughly $200 million into the project, with China Renaissance alone…
