Crypto Treasury Firm Begins Deploying $500M War Chest to Buy BNB
BNB Network Company (BNC), the treasury management firm of Nasdaq-listed CEA Industries, has poured $160 million to acquire Binance’s BNB token, purchasing 200,000 to claim the title of world’s largest corporate holder of the exchange’s native crypto.
The Nasdaq-listed company completed the substantial acquisition Sunday following a $500 million private placement led by 10X Capital in partnership with YZi Labs, the family office of Binance co-founders Changpeng Zhao and Yi He.
The acquisition is a strategic shift toward BNB Chain’s growth, with the company targeting an ecosystem it says serves 250 million users but lacks significant institutional presence in U.S. markets.
The company has made steps to execute its…
