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- BNC has made its entry into the digital asset arena, acquiring 200,000 BNB tokens in a single, high-value transaction worth over $100 million.
- The move comes amid a wave of corporate adoption of BNB in 2025, as the token breaks past its previous records and hits a new ATH.
BNB Network Company (BNC), the treasury-management arm of CEA Industries Inc., revealed that it has bought 200,000 BNB tokens, the native cryptocurrency of the BNB Chain, for about $160 million. This single purchase now makes it the largest corporate holder of BNB in the world.
For context, the company changed its stock ticker on August 6 from “VAPE” to “BNC,”. This reflects a complete shift from its former nicotine-vape business into a new era of digital asset treasury management. BNC’s strategy shift was matched by a top-level leadership refresh.
David Namdar now leads as CEO, supported by Russell Read and Saad Naja, with Hans Thomas and Alexander Monje joining the board to strengthen ties with 10X Capital.
The $160 million transaction represents the launch of BNC’s long-term growth strategy. The purchase follows a $500 million private placement, executed as a PIPE and led by 10X Capital alongside YZi Labs. Beyond that, the structure includes warrants that, if fully exercised, could provide an additional $750 million in funding, potentially bringing the total capital available for BNB accumulation to $1.25 billion.
Under this new capital framework, BNC’s common stock will trade on the Nasdaq exchange under the ticker BNC, while its warrants will be listed as BNCWW.
Together, these securities offer both equity investors and warrant holders a stake in the company’s digital asset treasury strategy, opening the door for U.S. and global investors to gain indirect exposure to BNB without holding the cryptocurrency directly.
BNC has positioned itself as a potential model for how publicly traded companies can integrate blockchain assets into their balance sheets as a core reserve strategy.
Rising Interest in BNB
At the heart of this strategy is BNB, now the fifth-largest cryptocurrency in the world with a market capitalization of about $114 billion, just behind Tether (USDT). BNB’s appeal comes from several factors: a deflationary supply model driven by regular token burns, steadily growing on-chain activity, and the potential boost from a proposed BNB spot ETF.
As CryptoNews Flash reported, VanEck filed for a BNB. ETF in May this year. If VanEck’s ETF gets approved, it could even open the door to staking, allowing investors to earn extra BNB rewards simply for holding.
Interest in BNB isn’t limited to BNC. In June, Chinese blockchain infrastructure giant Nano Labs committed $500 million to BNB via convertible notes, with plans to ramp that investment up to nearly $1 billion. More recently, Nasdaq-listed Windtree Therapeutics (WINT) revealed plans to raise $520 million and dedicate 99% of the proceeds to building its own BNB treasury.
The market momentum has been hard to ignore. Just last month, BNB reached a record high of $859. While it has cooled slightly since then, it’s still up about 20% over the past month and 54% in the past year.
BNB is currently trading at $822, and according to our analysis, a push toward $900, or even higher, is well within reach.
