Wu said that CEA Industries Inc., a publicly listed company in the United States (formerly coded as: VAPE, will be renamed to BNC), announced the completion of a $500 million private placement financing, led by YZi Labs. The funds will be used to implement a treasury reserve strategy centered on BNB, and the company plans to issue additional warrants to raise up to $750 million. The company will be renamed BNB Network Company starting August 6, with its stock code changing to BNC, becoming the first publicly listed company in the US to have BNB as its primary reserve asset. 10X Capital will serve as the treasury strategy asset manager, with over 140 institutions and individuals, including Pantera, GSR, Arrington, Blockchain.com, and Bitfury founders, participating in this round of investment. Former Galaxy Digital co-founder David Namdar will serve as CEO.

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