BNC Accelerates Toward Global #1 BNB Treasury With $160M Purchase

Rhea-AI Summary

BNB Network Company (Nasdaq: BNC) has announced a significant $160 million purchase of 200,000 BNB tokens, advancing its goal to become the world's largest corporate BNB holder. The company, formerly known as VAPE, recently completed a $500 million private placement led by 10X Capital and YZi Labs to fund its BNB-focused treasury strategy.

The company has undergone a strategic transformation with key leadership appointments, including David Namdar as CEO, Russell Read as former CalPERS CIO, and former Kraken director Saad Naja. BNC has potential access to an additional $750 million through its warrant structure, which could bring total proceeds to $1.25 billion for future BNB acquisitions.

Positive

• Secured $500 million private placement funding for BNB treasury strategy
• Established position as leading institutional BNB treasury globally
• Potential access to additional $750 million through warrant structure
• Strong leadership team with crypto and institutional investment experience
• Strategic exposure to BNB Chain, the #1 on-chain trading infrastructure

Negative

• High concentration risk with treasury focused solely on BNB token
• Significant exposure to crypto market volatility
• Complete business model pivot from previous operations

Insights

Cryptocurrency Investment Strategist

BNC makes strategic $160M BNB purchase after $500M raise, positioning as leading BNB treasury with potential for $1.25B total investment.

BNC's acquisition of 200,000 BNB tokens for $160 million represents a significant institutional position in the fourth-largest cryptocurrency by market capitalization. This purchase follows their $500 million private placement led by 10X Capital and YZi Labs, establishing BNC as the leading corporate holder of BNB globally.

The company's transformation is comprehensive—complete with a strategic rebrand from VAPE to BNC on Nasdaq and installation of crypto-native leadership. Former Galaxy Digital co-founder David Namdar as CEO, ex-CalPERS CIO Russell Read, and former Kraken director Saad Naja bring substantial digital asset expertise to this treasury management play.

BNB's fundamentals make it an intriguing institutional reserve asset. As the native token of BNB Chain, which ranks as the third-largest chain with $12.3 billion in total value locked (TVL), BNB benefits from its deflationary tokenomics and the chain's position as the leading on-chain trading infrastructure. The token's ecosystem supports 250 million users with $9.3 billion daily trading volume as of July 2025.

Most compelling is BNC's ambitious roadmap—they plan to deploy their entire initial capital into BNB and may access up to $750 million more through their warrant structure. If fully exercised, this could provide $1.25 billion for BNB acquisitions, creating a publicly-traded proxy for institutional BNB exposure without direct token custody concerns. This positions BNC as a potential gateway for traditional finance to gain BNB exposure through familiar securities markets.

NEW YORK, Aug. 11, 2025 (GLOBE NEWSWIRE) -- BNB Network Company, the treasury management business of CEA Industries Inc. (Nasdaq: BNC), today announced the purchase of 200,000 BNB tokens, furthering its momentum toward becoming the largest corporate holder of BNB globally. This acquisition follows a landmark $500 million private placement, led by 10X Capital in partnership with YZi Labs, to fund a treasury strategy centered exclusively on BNB—now the company’s primary reserve asset.

A Strategic Pivot to BNB

Under its new Nasdaq ticker, BNC (formerly VAPE) is steering its treasury management to focus solely on building significant exposure to BNB.

Leadership has been restructured to support this crypto-first strategy: David Namdar, co-founder of Galaxy Digital, steps in as CEO, joined by Russell Read, former CIO at CalPERS, and former Kraken director Saad Naja.

10X Capital Founding Partner Hans Thomas and Partner Alexander Monje have also joined the company’s Board of Directors.

Why BNB

BNB, the native token of BNB Chain—Now the #1 on-chain trading infrastructure—is currently the fourth-largest cryptocurrency by market capitalization. With $12.3 billion in total value locked (TVL), it ranks as the third-largest chain (by TVL) and shows strong potential for further growth.

Deflationary token supply, fast growing on-chain activity, attractive DeFi yields, and potential catalysts such as a BNB spot ETF make the asset a compelling long-term play. For BNC, BNB is not just a strategic reserve, it’s a growth opportunity aligned with one of the strongest DeFi ecosystems in the industry.

Why This Matters

The $160 million purchase confirms BNC’s role as the leading institutional BNB treasury globally.

BNB boasts 250 million users and an average daily trading volume of $9.3 billion as of July 2025. Yet, it remains under-represented in the U.S.

BNC aims to bridge that gap, bringing greater institutional presence to the BNB ecosystem.

What’s Next

BNC plans to continue purchasing BNB until the initial treasury capital is fully deployed and may tap up to $750 million more via its warrant structure. If fully exercised, total proceeds could approach $1.25 billion for additional BNB acquisitions.

This positions BNC to capture a unique market opportunity—offering U.S. and global investors exposure to BNB without requiring them to hold the token directly.

By securing $160 million in BNB and leveraging a robust $500 million private raise, BNC has established itself as the world’s leading corporate BNB treasury, signaling both confidence in BNB Chain’s long-term trajectory and a commitment to bringing BNB into the spotlight for U.S. institutional investors.

About YZi Labs

YZi Labs manages over $10 billion in assets worldwide with an “impact first” approach—believing strong returns follow meaningful change. The firm invests across all stages, with a focus on Web3, AI, and biotech. Its portfolio spans 300+ projects in 25+ countries across six continents, with over 65 companies emerging from its incubation programs. Follow YZi Labs on X for more.

About 10X Capital

10X Capital is a next-generation investment firm driving digital transformation in assets and infrastructure. It connects institutional capital with exceptional opportunities worldwide through public and private markets, portfolio companies, treasury operations, and an affiliated investment bank. With expertise in corporate development, asset and treasury management, and capital markets, 10X Capital builds Digital Asset Treasury companies that create disruptive strategies with global impact. Follow 10X Capital on X for more.

About BNC

BNC (Nasdaq: BNC) is a publicly traded company dedicated to building and managing the world’s largest corporate treasury of Binance Coin (BNB). BNC offers investors institutional-grade exposure to BNB.

Media Contacts:

CEA Industries

Sarah May

hello@web3wasabi.com

FAQ

How much BNB did BNC purchase in August 2025?

BNC purchased 200,000 BNB tokens worth $160 million as part of its strategy to become the largest corporate holder of BNB globally.

What is the total potential investment capacity for BNC's BNB treasury?

BNC has secured $500 million in private placement and could access up to $750 million more through its warrant structure, potentially totaling $1.25 billion for BNB acquisitions.

Who are the key executives leading BNC's new strategy?

The new leadership includes David Namdar (former Galaxy Digital co-founder) as CEO, Russell Read (former CalPERS CIO), and Saad Naja (former Kraken director).

Why did BNC choose BNB for its treasury strategy?

BNC selected BNB because it's the fourth-largest cryptocurrency with $12.3 billion TVL, featuring deflationary tokenomics, growing on-chain activity, attractive DeFi yields, and potential BNB spot ETF catalysts.

What is BNB's current market position as of July 2025?

BNB has 250 million users and averages $9.3 billion in daily trading volume, ranking as the third-largest chain by TVL with $12.3 billion locked.