Bullish indicating open at $55-$60, IPO prices at $37
BNB Network Company, the treasury management business of CEA Industries Inc. (BNC), purchased 200,000 BNB tokens valued at $160 million, according to a company statement.
The acquisition follows a $500 million private placement led by 10X Capital in partnership with YZi Labs to fund the company’s treasury strategy focused on BNB tokens. BNC operates under a new Nasdaq ticker, having changed from its former VAPE symbol.
The company appointed new leadership including David Namdar, co-founder of Galaxy Digital, as CEO, along with Russell Read, former chief investment officer at CalPERS, and former Kraken director Saad Naja. 10X Capital’s Hans Thomas and Alexander Monje joined the board of directors.
BNB ranks as the fourth-largest cryptocurrency by market capitalization and serves as the native token of BNB Chain. The blockchain network holds $12.3 billion in total value locked and maintains an average daily trading volume of $9.3 billion as of July 2025, serving 250 million users.
BNC plans to continue purchasing BNB tokens until the initial treasury capital is deployed and may access up to $750 million more through its warrant structure. If fully exercised, total proceeds could reach $1.25 billion for additional BNB acquisitions.
The company positions itself as offering institutional exposure to BNB without requiring direct token ownership. BNC describes its strategy as building the largest corporate treasury of BNB tokens globally.