Key Takeaways
- CEA Industries, via subsidiary BNC, purchased 200,000 BNB worth $160M, making it the largest publicly listed BNB holder.
- The firm shifted focus from nicotine vapes to building a BNB-based corporate treasury.
- Plans include potentially expanding holdings to $1.25B in BNB.
CEA Industries Becomes Largest Public BNB Holder with $160M Purchase
CEA Industries, through its treasury management arm BNB Network Company (BNC), has officially become the largest publicly listed holder of Binance Coin (BNB). The company acquired 200,000 BNB for $160 million, underscoring a strategic pivot toward crypto-focused treasury management.
This purchase follows the Nasdaq-listed company’s decision to abandon its nicotine vape business in favor of building a BNB treasury. The rebrand came with a ticker change from VAPE to BNC. In July, the firm secured a $500 million private placement, backed by 10X Capital and YZi Labs, to fund the initiative.
Aiming to Boost Institutional Presence in BNB Ecosystem
BNC stated that the acquisition is aimed at increasing institutional representation in the U.S. BNB market, which it views as significantly underrepresented compared to Bitcoin and Ethereum. The company cited deflationary token burns, rising on-chain activity, and potential market catalysts like a BNB spot ETF as key drivers behind the investment.
The strategy doesn’t stop here. BNC intends to continue acquiring BNB until its initial6 treasury allocation is exhausted and may raise an additional $750 million via its warrant structure — potentially amassing $1.25 billion in BNB holdings.
BNB is currently the fourth-largest cryptocurrency by market cap and powers BNB Chain, the third-largest blockchain by total value locked (TVL). Corporate adoption of altcoin treasuries is growing, with other firms like Nano Labs and Windtree also committing hundreds of millions toward BNB.
As of the latest data, BNB trades at $820.50, up 1% in the last 24 hours, while CEA Industries’ stock closed Friday at $17.10, up 92% since unveiling its BNB strategy.
Summary
CEA Industries’ bold $160 million BNB acquisition cements its status as the largest public BNB holder. With potential plans to expand its holdings to $1.25 billion, the move signals growing corporate adoption of altcoin treasuries and aims to strengthen institutional engagement within the BNB ecosystem.
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