BNC
***Sponsored by Sideways Frequency, LLC
BNC Accelerates Toward Global #1 BNB Treasury With $160M Purchase
CEA Industries and 10X Capital, with the support of YZi Labs, announce $500 Million Private Placement to Establish Largest Publicly-Listed $BNB Treasury Company in the World
Nano Labs Invests in BNB Strategic Reserve Company CEA INDUSTRIES INC. to Further Strengthen BNB Reserve Strategy
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Hello Everyone,
We saw another high flyer with last Wednesday's profile. It closed under $10 on the session and was red. Since then it has been nothing but green sky's and it just hit 14.77. That is almost 50% in just 4 sessions after we told said it had all the trademarks of a potential bounce play.
There is a good chance that this one might have come across your screen already as a few weeks back this one made a massive splash when it was trading under VAPE, the former ticker that was just changed days ago.
Now it is trading under the ticker BNC.
Back on the 28th the company the company made a MASSIVE announcement about going in another direction and it ran up over $80 on all the hype and algorithms. It was a MASSIVE day for the company. It traded just under a Billion Dollars before closing just under $58 Just to give you an idea how massive this news was, you can see it closed the day before in the 8 dollar range.
It almost hit 83 which is 1000% over the previous close. It did close up 540% on the session.
We saw the usual profit taking after a monumental move like that.
BNC came right back and dropped some huge news basically stating that the plan they just laid out is well under way.
BNC Accelerates Toward Global #1 BNB Treasury With $160M Purchase
NEW YORK, Aug. 11, 2025 (GLOBE NEWSWIRE) -- BNB Network Company, the treasury management business of CEA Industries Inc. (Nasdaq: BNC), today announced the purchase of 200,000 BNB tokens, furthering its momentum toward becoming the largest corporate holder of BNB globally. This acquisition follows a landmark $500 million private placement, led by 10X Capital in partnership with YZi Labs, to fund a treasury strategy centered exclusively on BNB—now the company’s primary reserve asset.
A Strategic Pivot to BNB
Under its new Nasdaq ticker, BNC (formerly VAPE) is steering its treasury management to focus solely on building significant exposure to BNB.
Leadership has been restructured to support this crypto-first strategy: David Namdar, co-founder of Galaxy Digital, steps in as CEO, joined by Russell Read, former CIO at CalPERS, and former Kraken director Saad Naja.
10X Capital Founding Partner Hans Thomas and Partner Alexander Monje have also joined the company’s Board of Directors.
Why BNB
BNB, the native token of BNB Chain—Now the #1 on-chain trading infrastructure—is currently the fourth-largest cryptocurrency by market capitalization. With $12.3 billion in total value locked (TVL), it ranks as the third-largest chain (by TVL) and shows strong potential for further growth.
Deflationary token supply, fast growing on-chain activity, attractive DeFi yields, and potential catalysts such as a BNB spot ETF make the asset a compelling long-term play. For BNC, BNB is not just a strategic reserve, it’s a growth opportunity aligned with one of the strongest DeFi ecosystems in the industry.
Why This Matters
The $160 million purchase confirms BNC’s role as the leading institutional BNB treasury globally.
BNB boasts 250 million users and an average daily trading volume of $9.3 billion as of July 2025. Yet, it remains under-represented in the U.S.
BNC aims to bridge that gap, bringing greater institutional presence to the BNB ecosystem.
What’s Next
BNC plans to continue purchasing BNB until the initial treasury capital is fully deployed and may tap up to $750 million more via its warrant structure. If fully exercised, total proceeds could approach $1.25 billion for additional BNB acquisitions.
This positions BNC to capture a unique market opportunity—offering U.S. and global investors exposure to BNB without requiring them to hold the token directly.
By securing $160 million in BNB and leveraging a robust $500 million private raise, BNC has established itself as the world’s leading corporate BNB treasury, signaling both confidence in BNB Chain’s long-term trajectory and a commitment to bringing BNB into the spotlight for U.S. institutional investors.
About YZi Labs
YZi Labs manages over $10 billion in assets worldwide with an “impact first” approach—believing strong returns follow meaningful change. The firm invests across all stages, with a focus on Web3, AI, and biotech. Its portfolio spans 300+ projects in 25+ countries across six continents, with over 65 companies emerging from its incubation programs. Follow YZi Labs on X for more.
About 10X Capital
10X Capital is a next-generation investment firm driving digital transformation in assets and infrastructure. It connects institutional capital with exceptional opportunities worldwide through public and private markets, portfolio companies, treasury operations, and an affiliated investment bank. With expertise in corporate development, asset and treasury management, and capital markets, 10X Capital builds Digital Asset Treasury companies that create disruptive strategies with global impact. Follow 10X Capital on X for more.
CEA Industries and 10X Capital, with the support of YZi Labs, announce $500 Million Private Placement to Establish Largest Publicly-Listed $BNB Treasury Company in the World
Upsized PIPE offering with potential to deliver up to $1.25 billion of gross proceeds
- Offering consists of a common equity PIPE delivering $500M in gross proceeds ($400M in cash and $100M in Crypto), plus up to $750M in cash which may be received from exercised warrants to be issued in the private placement (assuming 100% of warrants are exercised).
- The proceeds of the offering by CEA Industries Inc. (Nasdaq:VAPE-NOW BNC) will be used to establish the largest publicly listed BNB Chain digital asset treasury strategy in the world.
- $BNB is the fourth largest cryptocurrency in the world, with $100B+ market cap, and provides the treasury with opportunities to generate income and rewards on the BNB Chain and Binance ecosystem, the world’s #1 digital assets infrastructure by volume, with over 280 million users in over 180 countries.
- The BNB treasury strategy will be led by incoming CEO David Namdar (Co-founder of Galaxy Digital and Senior Partner at 10X Capital), incoming CIO Russell Read (former CIO of CalPERS and CIO of 10X Capital) and Saad Naja (former director at Kraken and one of the executive board of directors of global retail brokerage firm Exinity).
- 10X Capital, who also served as financial advisor to Nakamoto, will serve as the asset manager of the BNB treasury strategy, with the support of YZiLabs.
- Over 140 subscribers, led by institutional and crypto-native investors including YZi Labs, Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Hypersphere Capital, Kenetic, dao5, Protocol Ventures, Reciprocal Ventures, G-20 Group, Three Point Capital, Propel Horizon, Exinity, Winone, Nano Labs, and several other prominent investors including Olaf Carlson Wee, Rajeev Misra’s family office and the founders of BitFury, participated in the offering.
- The transaction is expected to close on or around July 31, 2025.
Louisville, CO, July 28, 2025 (GLOBE NEWSWIRE) -- CEA Industries Inc. (Nasdaq:VAPE) (the “Company”) and 10X Capital, with support from YZi Labs, today announced the pricing of an oversubscribed and upsized above-the-market PIPE financing, positioning the Company to become the largest publicly traded BNB Treasury Company in the United States.
This milestone marks a significant evolution from 10X Capital & YZi Labs’ initial announcement in early July, officially bringing $BNB—a top-four digital asset token with over $100 Billion in market capitalization—into U.S. public markets at institutional scale through a dedicated treasury vehicle.
Following the closing, the Company intends to begin deploying funds to acquire BNB, creating a gateway for institutional and retail investors to participate in the BNB Chain ecosystem, which powers millions of users and decentralized applications worldwide.
Following closing, the Company’s management team is expected to include significant institutional expertise, including from incoming CEO David Namdar (Co-Founder, Galaxy Digital and Senior Partner, 10X Capital), incoming CIO Russell Read (CIO, 10X Capital and former CIO of CalPERS, Deputy CIO of Deutsche Bank Asset Management) and Saad Naja (former director at Kraken and one of the executive board of directors of global retail brokerage firm Exinity).
Institutional & Crypto Native Investors
Reflecting significant demand for BNB exposure, the PIPE included over 140 subscribers from around the world, led by institutional and crypto-native investors including YZi Labs, Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Hypersphere Capital, Kenetic, dao5, Protocol Ventures, Reciprocal Ventures, G-20 Group, Three Point Capital, Propel Horizon, Exinity, Winone, Nano Labs, and several other prominent investors including Olaf Carlson Wee, Rajeev Misra’s family office and the founders of BitFury.
The Company expects to be positioned among the largest publicly traded vehicles offering exposure to a single Layer-1 blockchain following closing of the PIPE.
“BNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now. By creating a U.S.-listed treasury vehicle, we are opening the door for traditional investors to participate in a transparent way. This is a significant step in bridging digital assets and mainstream capital markets," said incoming CEO David Namdar.
“Institutional-grade exposure to BNB is attractive because it is driven by fundamentals rather than speculation. BNB powers one of the largest ecosystems in blockchain — with real network utility across DeFi, payments and enterprise applications. By creating a treasury vehicle, we’re allowing institutions to participate in that growth story in a way that aligns with their need for transparency and long-term value, rather than short-term trading opportunities,” said incoming CIO Russell Read.
BNB Treasury Strategy & Institutional Roadmap
Following closing, the Company expects to:
- Build an initial BNB position with plans to significantly scale holdings over the next 12–24 months via a best-in-class capital markets program incorporating ATM sales and other proven strategies.
- Evaluate staking, lending and other opportunities throughout the Binance ecosystem to generate revenue from the BNB Treasury, while maintaining a conservative risk profile.
“When YZi Labs first announced our support earlier this month, it was because we recognized the institutional potential of a publicly listed BNB treasury vehicle.” said Ella Zhang, Head of YZi Labs. “With the successful announcement of this PIPE, that conviction is now validated. We’re proud to see this vision come to life — expanding BNB’s utility and institutional access in a meaningful and sustainable way.”
“Treasury companies have proven to be the cleanest, most transparent gateway for institutions to access digital assets. With BNB powering hundreds of millions of users globally, this marks the right time for a well-capitalized BNB treasury company to enter the U.S. market,” said Hans Thomas, Founder and CEO of 10X Capital.
Market Context: A New Asset Class for Wall Street
The PIPE highlights a growing trend where publicly traded treasury companies are emerging as a new asset class for U.S. investors, building on the success of Bitcoin-focused vehicles such as MicroStrategy and recent treasury players such as Sharplink Gaming, Bitmine Immersion, and DeFi Development Corp. Importantly, ongoing crypto regulatory bills and signals from U.S. lawmakers are injecting confidence and laying the groundwork for greater market participation, providing institutional investors with increased regulatory certainty. Unlike those Bitcoin-focused and other treasury plays, this treasury vehicle is exclusively dedicated to the BNB Chain, offering exposure to a fast-growing Layer-1 network with strong DeFi, NFT and Web3 adoption.
Trading & Next Steps
The Company’s common stock will continue to trade on the Nasdaq Capital Market under the ticker “VAPE”, with the updated treasury strategy effective immediately following the closing, which is expected to take place on or about July 31, 2025. The Company will emphasize transparency and verification of holdings, strong engagement with the BNB ecosystem and community. Additional updates on BNB acquisitions, treasury growth and governance measures are expected in the coming weeks.
Nano Labs Invests in BNB Strategic Reserve Company CEA INDUSTRIES INC. to Further Strengthen BNB Reserve Strategy
HONG KONG, July 30, 2025 (GLOBE NEWSWIRE) -- Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced that it has entered into a strategic equity investment agreement with CEA INDUSTRIES INC. (Nasdaq: VAPE), a company focused on building BNB reserves.
Under the terms of the agreement, Nano Labs subscribed for 495,050 shares of Class A common stock of CEA INDUSTRIES INC. at a price of US$10.10 per share. The investment also includes 495,050 warrants with an exercise price of US$15.15 per share. If fully exercised, Nano Labs could hold up to 990,100 shares of the company.
This investment constitutes part of CEA INDUSTRIES INC.’s ongoing US$500 million Private Investment in Public Equity (PIPE) financing plan. Proceeds from this tranche are primarily designated for the acquisition of BNB, with the remainder allocated toward working capital, transaction fees, and general corporate purposes.
This strategic transactional move represents another key milestone in Nano Labs’ ongoing strategic initiative to build cryptocurrency reserves. The Company is committed to enhancing its reserve position across major public chain ecosystems through strategic partnerships and further optimizing its crypto asset allocation structure.
As of the date of this announcement, Nano Labs holds approximately 128,000 BNB in total.
The closing under the agreement is subject to customary closing conditions. There is no guarantee that closing will happen in full or at all. Investors should not place on due reliance on this press release.
About CEA Industries Inc. CEA Industries Inc. (Nasdaq: VAPE) is a growth-oriented company that has focused on building category-leading businesses in regulated consumer markets, including the high-growth, Canadian nicotine vape industry. CEA Industries targets scalable operators with strong regulatory alignment, defensible market share, and high-margin business models. Following the closing of the PIPE, CEA intends to adopt a BNB Treasury strategy, offering a gateway for institutional and retail investors to participate in the BNB Chain ecosystem, Binance Layer-1 blockchain ecosystem coin.
About Nano Labs Ltd. Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, Nano Labs has actively positioned itself in the digital assets space, adopting BNB as its primary reserve asset. It has reserved in mainstream digital currencies including BNB and BTC, and established an integrated platform covering multiple business verticals, including HTC solutions and HPC solutions*. For more information, please visit the Company’s website at: ir.nano.cn.* According to an industry report prepared by Frost & Sullivan.
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Sincerely,
