In a bold move highlighting the adoption of digital assets as a strategic reserve, CEA Industries, listed on NASDAQ, announced an initial issuance of BNB bonds worth $500 million. However, this positive news has not yet reflected on the price of BNB, which has declined by nearly 2% over the past 24 hours to trade near the $745 level.
A radical shift in CEA's strategy
CEA Industries, previously known by the trading symbol VAPE, completed a massive private placement to raise half a billion dollars to finance its new strategy focusing on BNB as a primary treasury asset.
More than 140 entities participated in this offering, including prominent companies such as YZi Labs, Pantera Capital, and G-20 Group, reflecting great confidence in this unique initiative. Estimates suggest that this move could yield a net profit of up to $750 million for CEA.
The company also announced the renaming of its stock symbol to BNC, in a direct reference to its integration with the BNB ecosystem, officially becoming: BNB Network Company.
New leadership... and a new vision
As part of this strategy, David Namdar, co-founder of Galaxy Digital, has been appointed as the new CEO, while Russell Reed has taken on the role of Chief Investment Officer. Tony McDonald, the former CEO, will contribute to the company's repositioning through a new role as chairman.
Comment from the new CEO
Namdar stated in an official statement:
> "The new BNC token reflects a clear strategic focus on the BNB Chain ecosystem and a new direction towards building strong treasury assets to support the company's long-term growth."
Impact of the news on the price of BNB
Despite the huge announcement, the BNB coin did not see an immediate rise, but rather recorded a decline of 2%, continuing its drop from the all-time high of $861 last week.
🔻 Current support: $745
📉 If this level is broken, the price may find support at:
$697 (50-day exponential moving average)
📈 If bullish momentum returns, the price may target:
Next resistance: $814
CEA shares react positively
In contrast, CEA Industries' shares rose by 2% following the announcement, reflecting investors' welcome of the company's shift to a new crypto-based model.
🔍 General analysis:
Although the move is historic in terms of size and investment direction, BNB traders are still waiting for tangible evidence of new money entering the market and a return of buying momentum before moving towards higher resistance levels.
