BNC Makes $160M BNB Bet, Becomes Largest BNB Treasury Globally
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.
BNB Network Company (Nasdaq: BNC) ha annunciato un importante cambio strategico acquistando 200.000 token BNB per un valore di 160 milioni di dollari, diventando il più grande detentore corporativo di BNB al mondo. La società, precedentemente nota come VAPE, ha completato un collocamento privato da 500 milioni di dollari guidato da 10X Capital e YZi Labs per finanziare la sua strategia di tesoreria incentrata su BNB.
L'azienda ha inoltre operato rilevanti cambiamenti nella leadership, nominando David Namdar come CEO e inserendo nelle file manager come l'ex CIO di CalPERS Russell Read e l'ex direttore di Kraken Saad Naja. BNC intende proseguire nell'acquisto di BNB, con un possibile accesso a altri 750 milioni di dollari tramite warrant, portando potenzialmente la capacità d'investimento totale a 1,25 miliardi di dollari.
BNB Network Company (Nasdaq: BNC) ha anunciado un importante giro estratégico al comprar 200.000 tokens BNB por un valor de 160 millones de dólares, convirtiéndose en el mayor poseedor corporativo de BNB del mundo. La compañía, anteriormente conocida como VAPE, completó una colocación privada de 500 millones de dólares liderada por 10X Capital y YZi Labs para financiar su estrategia de tesorería centrada en BNB.
La empresa ha realizado cambios significativos en su liderazgo, nombrando a David Namdar como CEO, junto con el ex CIO de CalPERS Russell Read y el exdirector de Kraken Saad Naja. BNC planea seguir adquiriendo BNB, con acceso potencial a 750 millones de dólares adicionales mediante warrants, lo que podría llevar la capacidad total de inversión a 1.250 millones de dólares.
BNB Network Company (Nasdaq: BNC)는 1억 6천만 달러 규모의 200,000 BNB 토큰을 매입해 세계 최대의 기업 BNB 보유자가 되었다고 발표했습니다. 이전 명칭은 VAPE였으며, BNB 중심의 재무 전략을 지원하기 위해 10X Capital과 YZi Labs가 주도한 5억 달러 규모의 사모 발행을 완료했습니다.
회사는 임원진에도 큰 변화를 주어 David Namdar를 CEO로 임명하고 전 CalPERS CIO인 Russell Read와 전 Kraken 이사 Saad Naja를 영입했습니다. BNC는 BNB 추가 매입을 계속할 계획이며, 워런트를 통해 추가로 7억5천만 달러에 접근할 수 있어 총 투자 여력이 12억5천만 달러에 이를 수 있습니다.
BNB Network Company (Nasdaq: BNC) a annoncé une importante réorientation stratégique en achetant 200 000 jetons BNB d'une valeur de 160 millions de dollars, devenant ainsi le plus grand détenteur corporatif de BNB au monde. La société, anciennement connue sous le nom de VAPE, a finalisé un placement privé de 500 millions de dollars mené par 10X Capital et YZi Labs pour financer sa stratégie de trésorerie axée sur le BNB.
L'entreprise a procédé à des changements significatifs à la direction, nommant David Namdar au poste de CEO, aux côtés de l'ancien CIO de CalPERS Russell Read et de l'ex-directeur de Kraken Saad Naja. BNC prévoit de poursuivre ses acquisitions de BNB, avec un accès potentiel à 750 millions de dollars supplémentaires via des bons de souscription (warrants), ce qui pourrait porter sa capacité d'investissement totale à 1,25 milliard de dollars.
BNB Network Company (Nasdaq: BNC) hat einen bedeutenden Strategiewechsel angekündigt und 200.000 BNB-Token im Wert von 160 Millionen US-Dollar erworben, womit das Unternehmen zum weltweit größten Unternehmensinhaber von BNB geworden ist. Die Gesellschaft, zuvor unter dem Namen VAPE bekannt, schloss eine Privatplatzierung über 500 Millionen US-Dollar ab, die von 10X Capital und YZi Labs angeführt wurde, um ihre auf BNB ausgerichtete Treasury-Strategie zu finanzieren.
Es gab zudem erhebliche Veränderungen in der Führung: David Namdar wurde zum CEO ernannt, hinzu kommen ehemalige Führungskräfte wie der frühere CalPERS-CIO Russell Read und der Ex-Kraken-Direktor Saad Naja. BNC plant, weiterhin BNB zu erwerben, und könnte durch Warrants auf weitere 750 Millionen US-Dollar zugreifen, wodurch die gesamte Investitionskapazität potenziell 1,25 Milliarden US-Dollar erreichen würde.
- 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
- High concentration risk with single-asset (BNB) treasury strategy
- Significant exposure to crypto market volatility
- Complete business model pivot creating operational transition risks
Insights
BNC's $160M BNB acquisition signals major institutional entry into the BNB ecosystem, establishing the first major corporate BNB treasury.
BNB Network Company (Nasdaq: BNC) has executed a $160 million purchase of 200,000 BNB tokens, positioning itself as the largest corporate BNB holder globally. This strategic acquisition follows a substantial
The company has undergone significant leadership restructuring to support this crypto-first approach, bringing in heavyweight talent including David Namdar (Galaxy Digital co-founder) as CEO, Russell Read (former CalPERS CIO), and Saad Naja (former Kraken director). This executive team brings substantial institutional cryptocurrency experience to guide BNC's new direction.
BNC's selection of BNB is strategically calculated. As the native token of BNB Chain, BNB currently ranks as the fourth-largest cryptocurrency by market capitalization with
This move represents more than just treasury diversification—it creates the first significant institutional bridge between traditional financial markets and the BNB ecosystem. With 250 million users and
Looking ahead, BNC plans continued BNB acquisitions and may access up to
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
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
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
BNB boasts 250 million users and an average daily trading volume of
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
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
About YZi Labs
YZi Labs manages over
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
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