CEA Industries, listed on the Nasdaq and a company focused on nicotine e-cigarette products, announced on Thursday that BNB Network Company (BNC) has again purchased 88,888 BNB tokens, further solidifying its position as the largest corporate holder of BNB in the world.
BNC stated in a press release that this purchase follows the acquisition of 200,000 BNB earlier this week, marking an important step towards the company's goal of holding 1% of the total supply of BNB by the end of 2025.
BNC pointed out that BNB is the native token of the public chain BNB Chain, featuring a deflationary supply model and deep decentralized finance (DeFi) applications, as well as one of the fastest-growing developer and user communities in the industry, with a total value locked (TVL) on-chain exceeding $12 billion.
BNC stated that its corporate structure allows it to fully leverage the BNB network effect, participate in on-chain yield strategies, and remain highly aligned with the long-term growth of the BNB ecosystem. If the company’s plans are fully implemented—including potentially exercisable warrants—it could raise an additional $750 million, and BNC's BNB holdings could exceed $1.25 billion.
According to data from Yahoo Finance, BNC (stock code: BNC) had a stable performance on Thursday, with a slight drop of 0.63%, closing at $28.19.
CEA Industries first announced plans to implement a BNB financial strategy on July 28, and subsequently completed a private financing round led by 10X Capital and YZi Labs to establish a BNB corporate reserve. YZi Labs is a family office set up by Binance founder Zhao Changpeng (CZ).
In addition to BNC, other publicly listed companies that have announced the adoption of BNB as a corporate financial asset include chip manufacturer Nano Labs and biotech company Windtree.
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