BNB Becomes Focus of $500M Treasury Play by US-Listed Vape Company

A publicly traded vape company, CEA Industries, raised $500 million to acquire a significant portion of the BNB Chain treasury, according to a recent press release. The company plans to use this capital to become the largest U.S.-listed BNB treasury entity, signaling a major shift in its business strategy.

This move comes at a time when BNB, Binance’s native token originally launched in 2017, remains a cornerstone of DeFi infrastructure and smart contract platforms. With a 24-hour trading volume exceeding $1.5 billion and a market cap hovering near $115 billion, BNB continues to hold strong among large-cap cryptocurrencies.

CEA Industries’ Pivot Toward Digital Assets

The decision to shift from the vaping sector into the crypto space reflects growing regulatory pressure on traditional industries and rising institutional interest in blockchain-based assets. CEA’s plan involves acquiring up to $1.25 billion worth of BNB, using the initial $500 million from a share sale and an additional $750 million in potential capital from exercised warrants.

The firm is collaborating with 10X Capital and YZi Labs, an investment group previously linked to Binance co-founder Changpeng Zhao (CZ). YZi Labs had earlier expressed intent to help establish a dedicated BNB treasury company.

New Executive Team with Crypto and Finance Experience

As part of the strategy shift, CEA Industries has overhauled its executive leadership:

• David Namdar, incoming CEO, is a co-founder of Galaxy Digital and a senior partner at 10X Capital.
• Russell Read, former CIO at CalPERS, will serve as Chief Investment Officer.
• Saad Naja, previously with Kraken, joins as Chief Operating Officer.

Namdar stated:

”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 new team brings a mix of traditional finance and crypto-native experience, aligning with the company's goal to operate a regulated crypto treasury vehicle in the U.S.

BNB Chain Market Outlook and CEA’s Planned Strategy

Following the deal's expected close around July 31, 2025, CEA Industries will begin acquiring and managing BNB tokens. The company plans to generate yield through:

• Staking
• Lending
• Governance participation
• BNB ecosystem partnerships

This structure gives retail and institutional investors a way to gain exposure to BNB without needing direct on-chain activity. The model echoes earlier strategies by Bitcoin-treasury firms such as MicroStrategy, but focuses instead on BNB’s DeFi and smart contract network.

BNB’s current support level near $550 has held firm, and with this influx of capital, some traders see the potential for bullish momentum, although no guarantees exist regarding token price movements.

Investor Reaction and Market Ripple Effects

The announcement triggered immediate interest from both equity and crypto markets. Shares of CEA surged over 550% in one day, climbing from $8.88 to an intraday high above $80.

This performance mirrors earlier moves by firms stockpiling Bitcoin or Ethereum. However, unlike speculative spikes, CEA’s leadership emphasized that this transition is a long-term treasury strategy, not a short-term trade.

Also notable is the participation of over 140 investors in the funding round, including Pantera Capital, Blockchain.com, and other prominent crypto funds. These backers add credibility to the plan and suggest strong support for BNB-focused treasury vehicles.

Other Companies Eyeing BNB Exposure

CEA is not the only public firm shifting toward BNB.

• Liminatus Pharma (LIMN) shares rose over 58% in a week following its quiet entry into BNB holdings.
• LIMN announced plans to use Ceffu for custody and emphasized its intent to retain its biotech focus while expanding into digital assets.
• NanoLabs and Windtree Therapeutics also revealed interest in acquiring BNB to strengthen treasury management. Worth noting, on July 3, Nano Labs acquired 74,315 BNB tokens for approximately $50 million.

Despite the surge in interest, BNB’s future performance will still depend on macro conditions, network upgrades, and broader adoption of the BNB Chain ecosystem.

FAQs

1. What is CEA Industries’ plan with the $500 million it raised?
   CEA Industries will use the funds to acquire BNB tokens and become the largest U.S.-listed BNB treasury firm. The company aims to offer regulated exposure to the BNB Chain ecosystem.

2. Why is a vape company investing in BNB?
   CEA is pivoting from its core vaping business due to regulatory pressure and sees BNB as a long-term strategic asset. The move diversifies its holdings and aligns with broader trends in digital asset treasury management.

3. Will this affect BNB’s price?
   While the announcement has triggered market interest, token price impact depends on the timing and scale of actual purchases. The news may support bullish sentiment, but no price guarantees exist.

Conclusion

CEA Industries’ $500 million move to buy BNB and form a publicly listed treasury vehicle marks one of the most significant steps by a non-crypto company into blockchain finance in 2025. Backed by 10X Capital and YZi Labs, the effort gives institutional investors a regulated path into the BNB ecosystem, blending equity market structure with decentralized asset exposure.

While the market response has been positive, and leadership brings solid experience, the long-term success of this strategy will depend on execution, staking yield sustainability, and broader adoption within the BNB Chain.

Resources:

1. CEA Industries Announcement: https://www.globenewswire.com/news-release/2025/07/28/3122430/0/en/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-NASDAQ-VAP.html

2. BNB Chain CoinMarketCap: https://coinmarketcap.com/currencies/bnb/

3. Nano Labs’ Announcement: https://www.globenewswire.com/news-release/2025/07/03/3109830/0/en/Nano-Labs-Has-Purchased-About-US-50-Million-BNB-Expands-Digital-Asset-Reserves-to-around-US-160-Million.html