CEA Industries and 10X Capital Raise $500M for U.S. BNB Treasury After 560% Stock Surge

CEA Industries Inc. (NASDAQ: VAPE) and 10X Capital, backed by YZi Labs, have announced a $500 million private placement to establish the largest publicly listed Binance Coin (BNB) treasury in the U.S., marking a significant step in institutional adoption of blockchain-based assets. The offering includes $400 million in cash and $100 million in cryptocurrency, with warrants potentially expanding gross proceeds to $1.25 billion. Funds will be allocated to build a BNB treasury strategy, with proceeds primarily used to acquire BNB tokens and explore revenue-generating opportunities within the Binance ecosystem, such as staking and lending [1].

The initiative, set to close by July 31, 2025, will be led by David Namdar, co-founder of Galaxy Digital, as CEO, and Russell Read, former CIO of CalPERS, as chief investment officer. The transition represents a strategic shift for CEA Industries, pivoting from its prior focus on the vape industry to a dedicated crypto treasury operation. Namdar emphasized that the BNB Chain, one of the most widely utilized blockchain ecosystems, has lacked institutional access until now. The U.S.-listed vehicle aims to bridge this gap, offering transparent exposure to BNB’s utility in decentralized finance (DeFi) and enterprise applications [2].

YZi Labs, which oversees $10 billion in assets, highlighted the transaction’s validation of BNB’s institutional potential. “This validates the conviction behind publicly listed BNB treasury vehicles,” said Ella Zhang, head of YZi Labs. The firm’s support underscores confidence in BNB’s long-term value proposition, driven by its real-world adoption and network effects [3]. The deal has attracted over 140 subscribers, including Pantera Capital and Blockchain.com, reflecting broad industry backing for the initiative [4].

Market reactions have been robust. CEA Industries’ stock surged over 560% on Monday following the announcement, signaling investor enthusiasm. Meanwhile, BNB’s price reached a 3% near-all-time high of $825, aligning with the heightened interest in the asset [5]. The treasury strategy mirrors the Bitcoin-focused model pioneered by companies like MicroStrategy but tailors it to BNB’s ecosystem. Unlike speculative crypto bets, the offering emphasizes BNB’s utility across DeFi, payments, and enterprise solutions, positioning it as a long-term institutional holding [6].

Regulatory developments in the U.S., including proposed crypto legislation, are fostering greater clarity for institutional investors. The structure of the offering—combining traditional and crypto-native investors—signals growing acceptance of blockchain-based treasuries as a legitimate asset class. Post-closing, CEA Industries plans to prioritize transparency by verifying BNB holdings and engaging stakeholders on treasury growth and partnerships [7].

This initiative reflects broader trends in crypto infrastructure, with publicly traded treasury companies emerging as a new asset class. By leveraging a Nasdaq listing and institutional-grade governance, the model could set a precedent for regulated exposure to blockchain ecosystems. The success of this approach may influence future strategies as regulatory frameworks mature [8].

Sources:

[1] GlobeNewswire (https://www.globenewswire.com/news-release/2025/07/28/3122430/0/en/CEA-Industries-and-10X-Capital-with-the-support-of-YZi-Labs-announce-500-Million-Private-Placement-to-Establish-Largest-Publicly-Listed-BNB-Treasury-Company-in-the-World-NASDAQ-VAP.html)

[2] Stock Titan (https://www.stocktitan.net/news/VAPE/cea-industries-and-10x-capital-with-the-support-of-y-zi-labs-xdvrepd6wbvr.html)

[3] CoinCentral (https://coincentral.com/nasdaq-listed-cea-industries-to-build-1-25b-bnb-treasury-reserve/)

[4] AInvest (https://www.ainvest.com/news/cea-industries-10x-capital-secure-500m-build-largest-publicly-listed-bnb-treasury-400m-cash-100m-crypto-2507/)

[5] Finimize (https://finimize.com/content/cea-industries-bets-big-on-bnb-with-500-million-deal)

[6] GlobeNewswire (https://www.globenewswire.com/news-release/2025/07/28/3122430/0/en/CEA-Industries-and-10X-Capital-with-the-support-of-YZi-Labs-announce-500-Million-Private-Placement-to-Establish-Largest-Publicly-Listed-BNB-Treasury-Company-in-the-World-NASDAQ-VAP.html)

[7] Thecryptobasic (https://thecryptobasic.com/2025/07/28/nasdaq-listed-cea-industries-to-launch-bnb-treasury-strategy-with-up-to-1-25b-in-funding/)

[8] AInvest (https://www.ainvest.com/news/cea-industries-transforms-bnb-treasury-giant-1-25b-funding-spur-550-share-surge-2507/)