BNC Makes $160M BNB Bet, Becomes Largest BNB Treasury Globally

Rhea-AI Summary

BNB Network Company (Nasdaq: BNC) has announced a major strategic shift by purchasing 200,000 BNB tokens worth $160 million, becoming the world's largest corporate BNB holder. The company, formerly known as VAPE, completed a $500 million private placement led by 10X Capital and YZi Labs to fund its BNB-focused treasury strategy.

The company has undergone significant leadership changes, appointing David Namdar as CEO, alongside former CalPERS CIO Russell Read and ex-Kraken director Saad Naja. BNC plans to continue acquiring BNB, with potential access to $750 million more through warrants, potentially bringing total investment capacity to $1.25 billion.

Positive

• Secured $500 million private placement funding for BNB treasury strategy
• Potential access to additional $750 million through warrant structure
• Strategic positioning in BNB ecosystem with 250 million users and $9.3B daily trading volume
• Strong leadership team with crypto and institutional investment experience
• First-mover advantage as largest institutional BNB treasury globally

Negative

• High concentration risk with single-asset (BNB) treasury strategy
• Significant exposure to crypto market volatility
• Complete business model pivot creating operational transition risks

NEW YORK, Aug. 10, 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, making it 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—home to one of the most active Web3 developer and user communities—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 burns, increasing on-chain activity, 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 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.

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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.

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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 (Nasdaq: BNC) purchase in August 2025?

BNC purchased 200,000 BNB tokens worth $160 million, making it the largest corporate holder of BNB globally.

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

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

Who are the key executives leading BNC's new crypto 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, features deflationary token burns, and has strong ecosystem growth potential.

What was BNC's previous company name and ticker symbol?

BNC was previously known as VAPE and traded under that ticker before changing to Nasdaq: BNC.