Author:律动 BlockBeats
The short squeeze narrative has reached BNB Chain—what’s the logic behind 4Stock’s surge?
Today, the short squeeze script has finally arrived on BSC, and the market has selected a suitable target: BNC.
This is indeed the most representative short squeeze target in the BNB concept.
Its market capitalization is approximately $144 million, with a stock price around $3.50. As of April 30, 2026, the company disclosed holding 515,500 BNB, now worth less than $400 million. A company with a $140 million market cap is holding assets valued at $400 million.
More interestingly, from December 2025 to June 2026, YZi Labs, the company’s asset manager 10X Capital, and the board engaged in a full-season conflict: YZi accused the other parties of deviating from the BNB strategy, poor governance, and conflicts of interest, and launched a proxy solicitation that was externally dubbed a “coup against the BNC board.” On June 23 and 24, 2026, both sides signed a cooperation agreement, formally ending the proxy contest. Three new directors joined, including YZi partner Alex Odagiu as interim president, and YZi withdrew its proxy solicitation. To observers, this was a “resolution.”
Low market cap, a compelling story, and the CZ factor—all the elements are in place.
4Stock is here
So, how do you tokenize a stock?
4Stock is a "tokenized stock" launched by Four.Meme on the BNB Chain, positioning itself as a pre-bStock solution specifically for U.S. stocks that do not yet have an official bStock. Its first target is BNC.
According to the official documentation, you must transfer USDC to the designated official address, with a minimum of 10,000 USDC per transaction. After transferring, save the TxID and complete the official form, then wait.
The platform will then purchase the underlying stock on the U.S. stock market on your behalf, and mint BNC4 tokens 1:1 based on the actual number of shares acquired. A 1% fee is charged and deducted directly from your USDC. The official statement is: “Typically processed within 24 hours.” Redemptions are not currently available.
The order that went from 30,000 to 230,000
Someone caught the wave. X user @ShawnThread posted: first to get the invoice for the transfer, first to receive the coins. He sent USDC to the platform, the platform minted BNC4 for him at the underlying stock cost, and he immediately sold it on-chain.
After BNC4 launched, the on-chain price was pushed to around $33 to $35, while the actual share price at the time was approximately $3.50—a premium of about 8 times. He entered at a cost close to the underlying stock price and exited at 8 times that value, earning approximately $230,000 on a single trade.
The brave enjoy the world first.
The official team has already received a large number of minting applications, and new BNC4 tokens are gradually entering the market, causing the premium to slowly diminish. The opportunity to turn 30,000 into 230,000 exists in that one moment.
Stratton on another chain
Soon, people discovered that this same mechanism had previously existed on Robinhood Chain, called Stratton. 4Stock was immediately compared to Stratton Market on Robinhood Chain.
They’re pretty much the same: buy the underlying stock, mint the stock token, and use it as the base pool for a meme. Stratton’s slogan is exactly this: Buy the shares. Mint the ticker. Launch the meme.
The difference lies in who controls the switch.
Stratton operates under an "authorized participant" model. The SPV (special purpose vehicle) purchases the underlying shares through a broker, with the shares held in a custodial account; minting and redeeming on-chain permissions are exclusively held by the SPV and market makers. Retail investors typically buy existing tokenized shares on the secondary market and never interact with the custodial account. Market makers perform an essential role in the middle: when there’s a premium, they mint and sell; when there’s a discount, they buy and redeem—just like ETF creations and redemptions—keeping the price tightly anchored to its net asset value.
4Stock is taking a different path. Currently, it’s still “you apply, and they mint it for you manually,” with a minimum of 10,000 USDC, filling out a form, and taking about 24 hours. The barrier is lower and more straightforward, but the trade-off is speed. Slowness creates that 8x window.
Stratton uses a small group of market makers to lock the price tightly to the underlying stock; 4Stock takes a more straightforward approach, using a spreadsheet to maintain a small arbitrage gap between the price and the underlying stock.
The mood is just too good.
4Stock reached $60 million in just a few hours. Its name is somewhat clever, as it’s also used by a meme coin and the name of a new platform. So the 4Stock token benefits from both: the美股 meme trend and its role as the platform token of a new exchange, driving market interest.
Stratton also rose—actually, this kind of meme trading in U.S. stocks works best with small-cap stocks. Companies like NVIDIA and Micron have market caps that are too large; even AMC couldn’t be squeezed, let alone companies with trillions in market cap. Definitely, penny stocks are more suitable.
The golden age of penny stocks.