CEA Industries Inc., a Canadian vape company, saw its stock surge by 550% following its pivot into digital assets.<\/p>\n
The entity announced it had priced an oversubscribed and upsized PIPE financing round, backed by 10X Capital and YZi Labs, in a bid to transform into a BNB-focused treasury vehicle.<\/p>\n
In an official press release, CEA said<\/a> that it aims to become the largest publicly traded BNB treasury company in the United States and bring institutional exposure to Binance\u2019s native Layer 1 blockchain asset. The PIPE, priced above market, attracted over 140 subscribers from across the globe, including leading crypto investment firms like Pantera Capital, GSR, and Blockchain.com.<\/p>\n Post-closing, CEA said that it plans to begin deploying capital into BNB.\u00a0The company\u2019s new leadership includes crypto veterans David Namdar (Galaxy Digital co-founder), Russell Read (former CIO of CalPERS and Deutsche Bank Asset Management), and Saad Naja (formerly of Kraken and Exinity).<\/p>\n This pivot represents one of the first institutional-scale vehicles providing BNB exposure through public markets.<\/p>\n Talking about the development, Namdar said,<\/p>\n \u201cBNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now. By creating a US-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.\u201d<\/p>\n The latest development comes just days after Nasdaq-listed Windtree Therapeutics announced<\/a> plans to raise $520 million to expand its BNB crypto reserves. The raise includes a $500 million equity line of credit (pending shareholder approval) and a $20 million stock purchase agreement with Build and Build Corp.<\/p>\n It said 99% of proceeds will go toward acquiring BNB. The company has partnered with Kraken for custody and trading support.<\/p>\n Windtree joins a growing list of firms, including Nano Labs, turning to BNB over Bitcoin or Ethereum as institutional altcoin adoption gains momentum.<\/p>\n The post This Vape Company Aims to Establish the Largest Publicly-Traded BNB Treasury Firm in the US<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" CEA Industries Inc., a Canadian vape company, saw its stock surge by 550% following its pivot into digital assets. The entity announced it had priced an oversubscribed and upsized PIPE financing round, backed by 10X Capital and YZi Labs, in a bid to transform into a BNB-focused treasury vehicle. BNB Treasury Move In an official […]<\/p>\n","protected":false},"author":0,"featured_media":84842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-84841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/84841"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=84841"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/84841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/84842"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=84841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=84841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=84841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Treasury Diversification Ramps Up<\/h2>\n