CEA Industries' Subsidiary Buys $160M in BNB Tokens

Nasdaq-listed CEA Industries announced that its subsidiary, BNB Network Company (BNC), has purchased 200,000 BNB tokens worth US$160 million.

This move marks a significant shift in CEA’s business focus from nicotine vapes to establishing a robust BNB treasury. As of now, BNC holds the largest publicly listed company treasury of BNB tokens. To support this strategic pivot, BNC raised US$500 million in a private placement, led by 10X Capital and backed by Binance co-founder Changpeng Zhao’s YZi Labs. The company intends to continue acquiring BNB tokens until the treasury capital is exhausted. Moreover, BNC may seek additional funding of up to US$750 million, potentially raising its total BNB token purchases to US$1.25 billion.

Key Highlights

BNB Network Company buys 200,000 BNB tokens for $160 million
Raised $500 million with backing from 10X Capital and YZi Labs
Plans up to $1.25 billion total BNB token purchases

BNB is the native cryptocurrency of the BNB Chain, which ranks as the third largest blockchain by total value locked (TVL) and the fourth largest cryptocurrency by market capitalization globally. The aggressive accumulation strategy by BNC underscores the growing institutional interest in cryptocurrencies, particularly tokens linked to major blockchain ecosystems like BNB Chain.

Also Read: Hong Kong's Stablecoin Rules Signal Global Crypto Shift

This acquisition reflects a broader trend where publicly traded companies increasingly allocate capital toward digital assets to diversify holdings and capitalize on blockchain technology growth.