BNB Standard rang the Nasdaq closing bell, and I watched the whole livestream. What moved me most was something CZ’s cousin said:
He said that when #BNB first launched nine years ago, it was just a simple token—it didn’t even have its own chain. He never imagined that nine years later, BNB would be the reason it got to ring the bell at Nasdaq. Just that one phrase, “I never imagined it.” No grand promises or bold claims.
But over the past nine years, BNB Chain has grown into one of the world’s leading public blockchains, with around 30 million monthly active users and over 3 million daily active users. Block times have fallen to about 0.5 seconds, and transactions reach finality in under a second.
The DAT playbook isn’t anything new anymore. Strategy has continually raised capital to accumulate BTC, creating a path that connects crypto assets with the U.S. equity markets. Since then, ETH, SOL, and BNB have each gotten their own DATs.
But I think DATs may gradually split into two categories:
One simply holds tokens, creating value by expanding its reserves through financing and benefiting from asset appreciation.
The other goes a step further: building on its token holdings to participate in on-chain operations and generate returns from the assets themselves.
BNC is trying to take the second path. BNB isn’t just a reserve asset; it has real uses, including gas and staking, and it’s backed by the mature BNB Chain ecosystem.
So, in addition to raising capital to expand its reserves like Strategy, BNC can use its BNB holdings to participate in the on-chain economy. Recently, BNC announced plans to operate BNB Chain validator nodes, and its new CEO has also clearly stated a goal of increasing the amount of BNB held per share.
There’s actually a new business logic here: raise capital in the equity markets to expand BNB reserves, use those reserves to participate in on-chain operations, and accumulate more BNB through real returns—thereby increasing the value of the assets represented by each share.
That means the company’s growth won’t depend entirely on raising capital to buy tokens. It may also be able to build up its assets through its own operations.
BNC has begun its transition from a publicly listed company that simply holds BNB to one that genuinely participates in the BNB Chain economy.
If this model works, BNC could become a leading example of DATs moving beyond simply holding tokens and into on-chain operations. So this bell-ringing ceremony isn’t just a milestone in BNB’s nine-year journey; it could also mark a new beginning for BNC’s business model.
Keep building. #BNB
He said that when #BNB first launched nine years ago, it was just a simple token—it didn’t even have its own chain. He never imagined that nine years later, BNB would be the reason it got to ring the bell at Nasdaq. Just that one phrase, “I never imagined it.” No grand promises or bold claims.
But over the past nine years, BNB Chain has grown into one of the world’s leading public blockchains, with around 30 million monthly active users and over 3 million daily active users. Block times have fallen to about 0.5 seconds, and transactions reach finality in under a second.
The DAT playbook isn’t anything new anymore. Strategy has continually raised capital to accumulate BTC, creating a path that connects crypto assets with the U.S. equity markets. Since then, ETH, SOL, and BNB have each gotten their own DATs.
But I think DATs may gradually split into two categories:
One simply holds tokens, creating value by expanding its reserves through financing and benefiting from asset appreciation.
The other goes a step further: building on its token holdings to participate in on-chain operations and generate returns from the assets themselves.
BNC is trying to take the second path. BNB isn’t just a reserve asset; it has real uses, including gas and staking, and it’s backed by the mature BNB Chain ecosystem.
So, in addition to raising capital to expand its reserves like Strategy, BNC can use its BNB holdings to participate in the on-chain economy. Recently, BNC announced plans to operate BNB Chain validator nodes, and its new CEO has also clearly stated a goal of increasing the amount of BNB held per share.
There’s actually a new business logic here: raise capital in the equity markets to expand BNB reserves, use those reserves to participate in on-chain operations, and accumulate more BNB through real returns—thereby increasing the value of the assets represented by each share.
That means the company’s growth won’t depend entirely on raising capital to buy tokens. It may also be able to build up its assets through its own operations.
BNC has begun its transition from a publicly listed company that simply holds BNB to one that genuinely participates in the BNB Chain economy.
If this model works, BNC could become a leading example of DATs moving beyond simply holding tokens and into on-chain operations. So this bell-ringing ceremony isn’t just a milestone in BNB’s nine-year journey; it could also mark a new beginning for BNC’s business model.
Keep building. #BNB
