BNC, a subsidiary of CEA Industries Inc. (Nasdaq: BNC), made a major deal by acquiring 200,000 tokens $BNB for approximately $160 million. This made BNC the largest corporate holder of BNB in the world. The deal was financed through a private placement of shares worth $500 million, organized by 10X Capital and YZi Labs. Now BNB becomes the primary reserve asset of the company, marking a strategic shift towards cryptocurrencies.
The transition was accompanied by a change in leadership: the CEO became David Namdar (co-founder of Galaxy Digital), and the board of directors welcomed experts from 10X Capital, Hans Thomas and Alexander Monje, as well as Russell Reed and Saad Najah, with experience in traditional finance and cryptocurrencies. BNB, the fourth cryptocurrency by market capitalization with a TVL of $12.3 billion, supports the BNB Chain ecosystem with 250 million users and a daily trading volume of $9.3 billion.
BNC plans to increase its investments in BNB to $1.25 billion, using an additional $750 million through warrants. This move strengthens confidence in BNB as a reserve asset and may attract more institutional investors. The growing corporate interest in BNB highlights its potential in DeFi and cross-chain solutions.
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