Overview
- Changpeng Zhao called for all Digital Asset Treasury companies to adopt third-party crypto custodians and investor-audited onboarding.
- He made the policy a prerequisite for YZi Labs investments in BNB-affiliated DAT projects, citing trust and transparency concerns.
- QMMM, a US-listed firm, had announced plans for a $100 million treasury in Bitcoin, Ethereum, and Solana before its shares spiked roughly 960%.
- The U.S. Securities and Exchange Commission later accused QMMM of stock manipulation tied to social media-driven hype.
- Reporting described QMMM’s Hong Kong office as vacated and investigators said they found no credible on-chain evidence for the firm’s claimed Solana reserves.