⏳ $500M Announcement Hits — But BNB Traders Wait for Real Momentum

CEA Industries concluded a $500 million BNB treasury seed issue.

A NASDAQ renaming of its ordinary stock to BNC was also announced.

BNB has fallen roughly 2% in 24 hours as it approaches $745.

BNB fell 2% on Tuesday after CEA Industries (VAPE) finalized a $500 million private issue to form a BNB-focused treasury.

CEA Industries proposes $500M BNB treasury
Nasdaq-listed CEA Industries launched a $500 million private placement on Tuesday to support a new BNB-centered treasury strategy, one of the first of its type.

With over 140 subscribers, including YZi Labs, Pantera Capital, and G-20 Group, the deal includes warrants that may net CEA $750 million. The business said Cantor Fitzgerald was the offering's principal financial adviser and placement agent.

CEA Industries may become the biggest corporate token holder by acquiring BNB as its principal reserve asset using private placement funds.

Russell Read will become Chief Investment Officer and Galaxy Digital co-founder David Namdar CEO after the company's BNB treasury conversion. Tony McDonald, the company's CEO, will become president to assist its repositioning.

CEA Industries also announced a ticker change to BNC on Wednesday to become BNB Network Company.

"Our new BNC ticker reflects a strategic realignment with the BNB Chain ecosystem and a clear focus on treasury growth," stated CEA Industries' incoming CEO David Namdar.

CEA Industries announced its BNB-focused treasury strategy last week, including intentions to fund $500 million via a private placement. Nano Labs, Windtree Therapeutics, and others have BNB treasury plans.

BNB targets $745 support after falling from all-time high. CEA Industries shares climbed by 2%, while BNB shares fell by the same proportion during the last 24 hours.

BNB is hunting for support at $745 after falling nearly 12% from a record high of $861 last week. If BNB falls below $745, the 50-day EMA and $697 might support it. It might hit $814 barrier on the upside.

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