Investors
Asset Security
How the BNB treasury is held and protected, as disclosed in the company's FY2026 annual report and related filings.
Custody
- Primary custodian
- Ceffu - institutional digital-asset custody platform (non-U.S.)
- Pledged-asset custodian
- BitGo Prime, LLC - pledged BNB is held in a segregated collateral account in the company's name and may not be rehypothecated
- Restricted or encumbered assets
- BNB pledged under the BitGo Prime master loan agreement (44,198 BNB at July 31, 2026, per the Q1 FY2027 Form 10-Q); the dashboard's Restricted BNB figure carries the current count
- Wallet infrastructure
- Multi-party computation (MPC) with segregated institutional account structures
- Holding entity
- BNC BNB Cayman (Cayman Islands), indirectly held via CEA BRS LLC (Delaware)
- Asset manager limits
- 10X Capital may not act as custodian or take title to treasury assets
- Custodian approval
- Custodians must be acceptable to the Board's Strategic Committee
- Airdrop eligibility
- Custody at Ceffu preserves eligibility for BNB ecosystem airdrops
Pledged collateral
Under a master loan agreement with BitGo Prime, LLC (April 30, 2026), the company had $15.0 million of USDC borrowings outstanding at July 31, 2026, secured by 44,198 pledged BNB with a fair value of $25.9 million. Borrowings bear interest at 9.5% per annum with a 0.3% onboarding fee paid on borrowed amounts, and are fixed-term loans maturing October 30, 2026 and January 21, 2027 with no contractual right of early repayment. The pledged BNB is held in a segregated custody account in the company's name and may not be rehypothecated. The agreement requires net equity of at least $25.0 million as of the end of each calendar month and a ratio of total assets to net equity not exceeding 200%; if pledged collateral falls below 150% of the loan balance BitGo may require additional collateral, and below 120% it may liquidate the collateral. The dashboard's restricted/unrestricted BNB split reflects pledges like these.
Concentration disclosure
The annual report identifies concentration risk from operating within the Binance ecosystem (custodian, asset, and venue). Read the full risk factors in the Form 10-K before making investment decisions.
Sources: Q1 FY2027 Form 10-Q filed 2026-09-11, accession 0001482541-26-000051 (borrowings outstanding, pledged collateral, facility terms and covenants at 2026-07-31); FY2026 Form 10-K filed 2026-06-23 (custodian, wallet infrastructure, holding structure, risk factors); Form 8-K filed 2026-05-06 (BitGo Prime facility); Form 8-K filed 2025-08-08 (asset management agreement custody limits) - SEC EDGAR CIK 0001482541.
- Controlling source
- Q1 FY2027 Form 10-Q filed 2026-09-11 (accession 0001482541-26-000051)
- Page content last changed
- 2026-09-19
- Filed language reviewed through
- 2026-10-02
- Latest filing in the index
- 2026-10-02 (index as of 2026-10-03)