Nasdaq-listed BNC announces the purchase of 200,000 BNB, worth approximately $160.00M

$BNB Network Company (NASDAQ: $BNC), a publicly traded company, announced the purchase of 200,000 $BNB for approximately $160.00 million, making it the world's largest corporate holder of BNB. The company previously completed a $500.00 million private placement led by 10 X Capital and established $BNB as its primary reserve asset.

The company has completed a management restructuring, appointing Galaxy Digital co-founder David Namdar as CEO, and former California Public Employees' Retirement System (CalPERS) chief investment officer Russell Read and former Kraken executive Saad Naja to the management team. [Odaily]