BNB Network Company (BNC), formerly known as CEA Industries, has acquired 200,000 BNB worth approximately $160 million, making it the largest corporate holder of Binance’s native token. The move positions BNC as a major institutional player within the BNB Chain ecosystem.
Institutional capital enters BNB
The purchase was funded through a $500 million private placement led by 10X Capital in partnership with YZi Labs. This financing includes a warrant structure that could increase total funding to $1.25 billion, providing BNC with the flexibility to expand its BNB holdings further.
Leadership reshaped for crypto expansion
BNC appointed David Namdar, co-founder of Galaxy Digital, as CEO to lead its new strategy. The leadership team now includes Russell Read (former CIO of CalPERS), Saad Naja (former Kraken director) and 10X Capital executives Hans Thomas and Alexander Monje on the board. The group’s combined experience bridges traditional finance and high-growth digital assets.
Why focus on BNB?
BNB ranks as the fourth-largest cryptocurrency by market cap and third-largest blockchain by TVL, with about $12.3 billion locked and daily trading volume near $9.3 billion. With over 250 million active addresses, BNB benefits from deflationary tokenomics and growing utility across DeFi, NFTs and real-world asset tokenization.
Strategic implications
This is one of the first large-scale treasury strategies fully concentrated on BNB, signaling growing institutional confidence in the Binance ecosystem. Analysts note the potential upside of such exposure, especially if BNB becomes a candidate for a future spot ETF in major markets.
source: CoinDesk, GlobeNewswire, Reuters, Investing, CCN
