BNB Network Company announces the purchase of 200,000 BNB, with a transaction amount of approximately $160.00M

On August 11 (UTC+8), publicly traded $BNB Network Company (Nasdaq: BNC) 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 10X 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 have joined the management team. [GlobeNewswire]