CEA Industries, a small company listed on Nasdaq, has raised $500 million to create the largest BNB treasury ever held by a listed company, causing its stock to surge by 650% in a single session.
The deal is led by 10X Capital with the support of YZi Labs, CZ’s family office, and brings together over 140 investors, including Pantera, GSR, and Arche Capital.
The goal is to provide regulated exposure to BNB and generate income through staking, lending, and DeFi, marking a new milestone in the institutional adoption of crypto treasuries.
CEA Industries Acquires a BNB War Chest
No one saw it coming. CEA Industries, a modest Nasdaq-listed company in the vape sector, has just closed a $500 million private investment round to build the largest BNB treasury ever held by a listed company.
Originally valued at just $60 million, this American firm’s stock (ticker: VAPE) has skyrocketed by +650% in a single session since the announcement. A strong signal: the markets are endorsing the initiative.
10X Capital, YZi Labs, and an Army of Institutional Investors Behind the Deal
This is not an isolated move. The operation was orchestrated by 10X Capital (former CalPERS CIO at the helm), with support from YZi Labs, the personal family office of Changpeng Zhao, former Binance CEO. Yes, CZ is returning (almost quietly) to the game… through a structure capable of influencing the market without direct exposure.
Over 140 investors participated, including Pantera Capital, GSR, Arche Capital, and Borderless. Of the $500 million raised, $400 million comes from cash and $100 million in crypto, with up to an additional $750 million possible through the exercise of subscription warrants. Total potential? $1.25 billion.
BNB, an ‘Institutional’ Bet?
The aim? To offer regulated and transparent exposure to BNB, the native asset of the BNB Chain, now valued at over $110 billion. A token often overlooked by major fund managers for its connection to Binance… but fueling one of the world’s largest blockchain ecosystems.
According to Russell Read, former CalPERS executive:
BNB is built on strong fundamentals. It powers a network with real use cases, well beyond speculation.
The strategy will be managed by 10X Capital, with the goal not only of accumulating BNB but also of leveraging the ecosystem: staking, lending, DeFi applications… The aim is clear: to turn this reserve into a source of income.
A New Era for Crypto Treasuries?
Following the success of Bitcoin treasuries like MicroStrategy’s, companies are now embracing other assets. ETH, SOL, and now BNB are joining the party. The structure established by CEA could become a benchmark vehicle for institutional funds seeking indirect exposure to the BNB Chain, without going through unregulated markets.
BNB, on the other hand, surged by 5% following the announcement, reaching a new all-time high above $860 before stabilizing at $836. A measured reaction, but it could be just the beginning.
