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The addition of non‐benzenoid quinones, acenapthenequinone or aceanthrenequinone, to the 9‐carbene‐9‐borafluorene monoanion (1) affords the first examples of dianionic 10‐membered bora‐crown ethers (2–5), which are characterized by multi‐nuclear NMR spectroscopy (1H, 13C, 11B), X‐ray crystallography, elemental analysis, and UV/Vis spectroscopy. These tetraoxadiborecines have distinct absorption profiles based on the positioning of the alkali metal cations. When compound 4, which has a vacant C4B2O4 cavity, is reacted with sodium tetrakis[3,5‐bis(trifluoromethyl)phenyl]borate, a color change from purple to orange serves as a visual indicator of metal binding to the central ring, whereby the Na+ ion coordinates to four oxygen atoms. A detailed theoretical analysis of the calculated reaction energetics is provided to gain insight into the reaction mechanism for the formation of 2–5. These data, and the electronic structures of proposed intermediates, indicate that the reaction proceeds via a boron enolate intermediate. [ABSTRACT FROM AUTHOR]