CEA Industries Becomes Largest Corporate Holder of BNB After $160M Investment

CEA Industries, a publicly traded company listed under the ticker symbol BNC, has emerged as the largest corporate holder of Binance Coin (BNB) following a $160 million investment that acquired 200,000 tokens [1]. The move is being managed through its treasury asset management arm, the BNB Network Company, and represents a strategic shift toward crypto asset management [1]. This purchase was made as part of a broader pivot from its former nicotine vape business, which operated under the ticker VAPE, to a focus on BNB as its primary reserve asset [1].

The investment followed a $500 million private placement led by 10X Capital and YZi Labs, the latter co-founded by Binance’s former CEO, Changpeng Zhao [1]. The firm is now planning to invest up to $1.25 billion in BNB, with the potential to raise an additional $750 million through warrants to fund further acquisitions [1].

To support this new direction, CEA has restructured its leadership, appointing David Namdar, co-founder of Galaxy Digital, as CEO. Other additions include Russell Read, former CIO at CalPERS, and Saad Naja, ex-Kraken director, who will strengthen the company’s institutional-grade governance and oversight [1]. The board has also welcomed Hans Thomas and Alexander Monje of 10X Capital [1].

Analysts suggest that the move reflects a growing trend among corporations to diversify their treasury holdings beyond Bitcoin and Ethereum, with increasing interest in BNB [1]. The BNB token, native to the BNB Chain, currently trades at around $813 and holds a market capitalization of approximately $113 billion, ranking fifth among cryptocurrencies [1].

CEA Industries aims to offer institutional exposure to the BNB ecosystem without requiring direct token ownership, targeting both U.S. and global investors [1]. By positioning itself as a leader in this niche, the company is looking to capitalize on the expanding role of blockchain-based assets in corporate portfolios.

Source: [1] CEA Industries Becomes Largest Corporate Holder of BNB with $160M Purchase (https://coinmarketcap.com/community/articles/689a0439d80b084b3637fb95/)