CEA Industries Inc., the Colorado-based nicotine company, announced that its treasury management arm, BNB Network Company (BNC), has acquired 200,000 BNB tokens.
The stash is worth around $160 million, which makes it the largest corporate holder of BNB globally.
$160 Million Bet
The purchase follows a $500 million private placement led by 10X Capital in partnership with YZi Labs, earmarked exclusively for building BNB holdings as the company’s primary reserve asset.
Leadership changes have accompanied the crypto pivot as David Namdar, co-founder of Galaxy Digital, was appointed as CEO, alongside Russell Read, former CIO at CalPERS, and Saad Naja, a former Kraken director.
10X Capital’s Hans Thomas and Alexander Monje have also joined the board.
BNB Network Company (BNC) explained that BNB, with 250 million users and an average daily trading volume of $9.3 billion as of July 2025, remains underrepresented in the US market. As such, BNC intends to bridge this gap by increasing instit
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