On July 28, 2025, CEA Industries Inc. (Nasdaq: VAPE) and 10X Capital, backed by YZi Labs, announced a $500 million private placement to establish the world’s largest publicly-listed $BNB treasury company.

The oversubscribed PIPE offering, comprising $400 million in cash and $100 million in crypto, could scale to $1.25 billion with warrant exercises.

Led by incoming CEO David Namdar (Galaxy Digital co-founder), CIO Russell Read (former CalPERS CIO), and Saad Naja (ex-Kraken director), the strategy aims to acquire $BNB tokens aggressively over 12–24 months, tapping into the BNB Chain’s $117 billion market cap and 280 million-user ecosystem for staking and lending yields.

Over 140 investors, including Pantera Capital, Blockchain.com, and Arrington Capital, joined the deal, which is set to close by July 31, 2025. CEA’s stock (VAPE) surged 600–717% to $63.04–$72.51. This move positions CEA to rival Bitcoin-focused treasuries like MicroStrategy and Ethereum-focused SharpLink Gaming, capitalizing on BNB’s DeFi and NFT utility.

What’s your take—will CEA’s $BNB treasury reshape institutional crypto adoption, or is it a risky bet on a single Layer-1 ecosystem?
#wendy