CEA Industries and 10X Capital, with the support of YZiLabs, have announced a $5.00 billion private fundraising to establish the BNB Strategic Reserve.

News on July 28th, according to a report by *streetinsider*, CEA Industries (NASDAQ: VAPE) and 10X Capital announced a $500.00 million private placement with the support of YZi Labs to establish the world's largest publicly traded $BNB financial company. This financing consists of two parts:

· Common Stock PIPE Financing: Total of $500.00 million (including $4.00 billion in cash + $1.00 billion worth of cryptocurrency)

· Warrant Exercise: If fully exercised, an additional $750.00 million in cash financing is expected to be raised

Officials stated that this PIPE received oversubscription from over 140 institutions worldwide, with key participating institutions 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, etc. [BlockBeats]