CEA Industries has unveiled plans to transform into the largest publicly traded BNB treasury holder in the United States, backed by $1.25 billion in capital and partnerships with firms linked to Binance co-founder Changpeng Zhao. The company’s stock price surged nearly 550% immediately following the strategic announcement.
The funding initiative comprises a $500 million private share placement and $750 million from exercised warrants, with all proceeds allocated to acquiring BNB tokens. Incoming CEO David Namdar, currently a senior partner at investment firm 10X Capital, will helm the cryptocurrency strategy, while multiple executives from 10X Capital assume key leadership positions. The company intends to generate revenue through staking and other income streams leveraging its BNB holdings.
The involvement of Changpeng Zhao, who maintains 98.5% of his personal cryptocurrency portfolio in BNB, is anticipated to impact institutional interest and market sentiment toward the token. This corporate pivot positions CEA Industries at the forefront of corporate cryptocurrency treasury strategies in the public markets.