Key Notes
- QMMM has suddenly disappeared with investors' funds, sparking safety updates.
- Now, Changpeng Zhao says it is mandatory for the BNB DAT project, looking to secure investment from YZi Labs, to have a third-party custodian.
- China Renaissance Holdings is looking to invest $600 million in a BNB treasury.
As the number of firms investing in a corporate BNB BNB $1 073 24h volatility: 6.6% Market cap: $149.20 B Vol. 24h: $5.55 B treasury increases, Binance founder Changpeng “CZ” Zhao has seen the need to educate them.
Recently, he took to X to encourage such BNB treasury firms to utilize the service of third-party custodians for their holdings.
His statement comes as Digital Asset Treasuries (DATs) become a hot topic in the crypto industry.
All DAT companies should use 3rd party crypto custodians with account setup audited by investors.
This is a prerequisite for any @yzilabs investments in any #BNB DATs. https://t.co/POsFWZqoJG
— CZ 🔶 BNB (@cz_binance) October 17, 2025
QMMM Disappearance Trigger Third-Party Custodian Talks
In the last few months, several traditional institutions have tilted towards maintaining a crypto-based treasury. However, the hype and adoption came with increased risks, and this has caused many enthusiasts to begin to raise questions about transparency and safety.
CZ’s call for safeguards and accountability across DAT comes from these concerns.
The conversation began with concerns that QMMM, a crypto treasury firm, might have vanished with investors’ funds.
第一家跑路的微策略公司出现了。
曾计划拟斥 1 亿美元，建立 BTC、ETH、SOL 储备的美股上市公司 QMMM，在官宣后股价曾一度上涨 9.6 倍，后被 SEC 指控利用社交媒体操纵股价。
根据财新消息，QMMM 所在的香港海景大厦办公室，已经彻底人去楼空，疑似关闭和跑路。 pic.twitter.com/F0JRHKqVIS
— AB Kuai.Dong (@_FORAB) October 17, 2025
According to AB Kuai Dong on X, the U.S.-listed firm had announced plans to invest $100 million in Bitcoin BTC $106 414 24h volatility: 1.6% Market cap: $2.12 T Vol. 24h: $94.72 B , Ethereum ETH $3 826 24h volatility: 2.0% Market cap: $462.74 B Vol. 24h: $52.83 B , and Solana SOL $182.2 24h volatility: 1.7% Market cap: $99.58 B Vol. 24h: $10.24 B , and its stock price shot up to 9.6 times after the news.
Not too long after, the US Securities and Exchange Commission (SEC) claimed that QMMM manipulated its stock using social media.
As it stands, its Hong Kong office is now reportedly empty. Fears have risen, likely due to the absence of a separate custodian.
CZ advises all DAT firms to use a trusted third-party crypto custodian. He also encouraged them to have their accounts audited by investors.
While he sounded this advice to companies, CZ explicitly stated that this will now be a mandatory step for any BNB DAT project looking to secure investment from YZi Labs .
This further highlights his commitment to promoting transparency in the cryptocurrency sector.
Firms Establishing a BNB Treasury
One of the companies that recently attempted to establish its BNB treasury is China Renaissance Holdings .
This Beijing-based investment bank is working on raising around $600 million for a new BNB treasury company.
Some sources claimed that YZi Labs and China Renaissance will contribute $200 million to the deal, with the bank committing around $100 million of that amount.
Also, Applied DNA Sciences secured up to $58 million for a BNB treasury strategy through a private investment in public equity (PIPE) offering.
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