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In the midsummer of 2025, Huaxing Capital once again became the focus of market attention. It signed a memorandum of cooperation with YZi Labs (formerly Binance Labs), planning to invest US$100 million in Binance’s platform currency BNB. Just two months ago, the board of directors approved a similar investment to expand into Web 3 and cryptocurrency. Such a rapid pace of activity has led to speculation that Huaxing is planning a profound transformation, perhaps even a revolution of its own. In China’s investment banking landscape, Huaxing has always been a special existence. It lacks the state-owned capital of CICC and CITIC, nor the century-long legacy of Goldman Sachs and Morgan Stanley. Its growth path coincided almost entirely with the explosion of China’s internet. Since its founding in 2005, Huaxing has…# Analysis# crypto# MarketPre
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