CEA Industries Becomes the Largest Corporate Holder of BNB with a $160M Acquisition
Finance/Markets

CEA Industries Becomes the Largest Corporate Holder of BNB with a $160M Acquisition

CEA Industries has announced a significant purchase of BNB tokens, becoming the largest corporate holder, following a substantial private placement.

Trade with eToro

Trade with eToro

Open an account

Trade on XM

Trade on XM

Open an account

CEA Industries’ treasury division has made headlines by acquiring 200,000 BNB tokens for a total of $160 million. This strategic move positions the company as the largest corporate owner of BNB tokens. Additionally, this follows a recent successful private placement which raised $500 million, spearheaded by 10X Capital and YZi Labs.

Details include:

  • The investment aims to cultivate a treasury focused solely on BNB.
  • The company is set to expand its acquisitions until its treasury funds are fully utilized.
  • BNC’s leadership has undergone significant changes to facilitate this approach, with David Namdar stepping in as CEO, alongside Russell Read and Saad Naja in key positions. Furthermore, Hans Thomas and Alexander Monje have joined the board from 10X Capital.

CEA Industries (BNC) anticipates maximizing its resources in BNB, with potential investments rising up to $1.25 billion if their fundraising warrants are exercised. The company’s stock has already seen a notable increase of 22.2% in pre-market trading.

Next article

Chainlink Partners with NYSE’s Parent Company ICE to Integrate Forex and Precious Metals Data

Newsletter

Get the most talked about stories directly in your inbox

Every week we share the most relevant news in tech, culture, and entertainment. Join our community.

Your privacy is important to us. We promise not to send you spam!