CEA Industries 10X Capital Secure 500M to Build Largest Publicly Listed BNB Treasury 400M Cash 100M Crypto

CEA Industries and 10X Capital, alongside YZi Labs, have announced a $500 million private placement to establish the world’s largest publicly listed BNB (Binance Coin) treasury, with completion expected by July 31, 2025 [1]. The transaction includes $400 million in cash and $100 million in cryptocurrency, with gross proceeds potentially expanding to $1.25 billion through warrant exercises [2]. This move positions the company to acquire BNB, a cryptocurrency with a market capitalization exceeding $100 billion, and create a structured gateway for institutional and retail investors to engage with the BNB Chain ecosystem. Over 140 investors, including Pantera Capital and Blockchain.com, have supported the initiative, underscoring growing institutional confidence in BNB’s utility and market potential [3].

The leadership overhaul underlines the strategic shift: David Namdar, co-founder of Galaxy Digital, will serve as CEO, while Russell Read, former CIO of CalPERS, joins as CIO [1]. The funds will be allocated to build a BNB treasury, with potential yield generation through staking and ecosystem opportunities. The offering mirrors the strategy employed by Bitcoin-focused treasury companies like MicroStrategy but applies it to BNB, creating a publicly traded vehicle for a major Layer-1 blockchain. This approach emphasizes transparency and long-term value, aligning with institutional investor preferences [2].

The initiative reflects broader trends in institutional crypto adoption, as BNB’s role in decentralized finance (DeFi), payments, and enterprise applications is highlighted as a key differentiator [3]. Regulatory developments in the U.S., including Nasdaq listing compliance, further reinforce confidence in structured crypto investments. However, the press release cautions that forward-looking statements—such as potential warrant exercises and market performance—are subject to uncertainties inherent in cryptocurrency markets [4].

Analysts suggest this move could accelerate institutional adoption of BNB, particularly as treasury vehicles emerge as a distinct asset class. The involvement of prominent crypto-native and traditional investors validates BNB’s position in the blockchain ecosystem. Post-transaction, the company plans to prioritize transparency, governance, and community engagement, with updates on treasury growth expected in the coming weeks [5].

The hybrid capital structure—$400 million cash, $100 million crypto, and $750 million in warrants—aligns with the shift toward diversified digital asset strategies. As BNB Chain expands its user base and application footprint, the treasury’s focus on liquidity and market visibility may influence broader DeFi protocols and token economics. This transaction represents a milestone in bridging traditional capital markets with blockchain infrastructure, potentially reshaping institutional exposure to digital assets.

[1] 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 (GlobeNewswire, 2025). URL: 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] CEA Industries and 10X Capital Announce $500 Million Private Placement (Stock, 2025). URL: https://www.stocktitan.net/news/VAPE/cea-industries-and-10x-capital-with-the-support-of-y-zi-labs-xdvrepd6wbvr.html

[3] $500M Private Placement Creates Largest Public BNB Treasury (CoinDesk, 2025). URL: https://www.coindesk.com/markets/2025/07/28/bnb-token-rallies-to-record-high-as-cea-industries-raises-usd500m-for-treasury-strategy

[4] Nasdaq-Listed CEA Industries to Build $1.25B BNB Treasury (CoinCentral, 2025). URL: https://coincentral.com/nasdaq-listed-cea-industries-to-build-1-25b-bnb-treasury-reserve/

[5] CEA Industries Shares Jump 476% Following Launch Of $500M Raise (Barchart.com, 2025). URL: https://www.barchart.com/story/news/33692767/cea-industries-shares-jump-476-following-launch-of-500m-raise-to-create-world-s-largest-public-bnb-treasury-company