CEA Industries becomes the largest holder of BNB among public companies

What’s new? CEA Industries’ treasury asset management division, BNB Network Company, purchased 200 000 BNB tokens from Binance, the world’s largest centralized crypto exchange (CEX), making the company the world’s largest corporate holder of the asset.

Press release

What else is known? Earlier, CEA Industries raised $500 million through a private placement of securities led by 10X Capital and YZi Labs (formerly Binance Labs).

The funding was raised to implement a treasury strategy focused exclusively on BNB, which has now become the company’s main reserve asset.

As part of this strategy, changes were made to the company’s management. Galaxy Digital co-founder David Namdar became CEO, and former CalPERS Chief Information Officer Russell Reed and former Kraken Director Saad Naja joined the top management team. The board of directors now includes Hans Thomas, founding partner of 10X Capital, and Alexander Monje, partner.

In addition, BNB Network Company, traded on Nasdaq, changed its ticker symbol from VAPE to BNC.

The company notes that it chose BNB as its primary reserve asset for several reasons. For one, it is the native token of the BNB Chain blockchain, which is home to one of the most active communities of Web3 developers and users.

The total value locked (TVL) of BNB Chain is $12,3 billion, ranking it third among all blockchains and demonstrating significant potential for further growth.

As of July 2025, the number of BNB users reached 250 million, and the average daily trading volume was $9,3 billion.

BNB ranks fifth in the overall cryptocurrency ranking by market capitalization after Bitcoin, Ethereum, Ripple’s XRP, and Tether’s USDT stablecoin, with a market cap of $112,44 billion and trading at $806,55, up 15% since the beginning of the year.

In addition, the BNB Chain team regularly conducts BNB burning operations, as a result of which some of the tokens are permanently removed from circulation, which contributes to an increase in value as a result of a decrease in supply.

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Finally, BNB is attractive for long-term investment due to the possible imminent approval of spot exchange-traded funds (ETFs) based on it in the United States.

In 2024, the SEC approved ETFs based on Bitcoin and Ethereum, after which investment companies began submitting applications to launch similar products based on the largest altcoins.

“For BNC, BNB is not just a strategic reserve—it’s a growth opportunity aligned with one of the strongest ecosystems in the industry,” the press release notes.

BNB Network Company plans to allocate all of its initial treasury capital to the purchase of BNB and then raise an additional $750 million. If this plan is fully implemented, the company will purchase $1,25 billion worth of BNB.

Thus, BNB Network Company now offers US and international investors in BNC shares access to BNB without the need to own the token directly.

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Other crypto treasury public companies, such as Michael Saylor’s Strategy, which buys Bitcoin, and BitMine Immersion, which invests in Ethereum, operate similarly.