CEA Industries Becomes Largest Corporate Holder of BNB With $160.00M Buy

$BNB Network Company, the treasury arm of CEA Industries ($BNC), has announced the purchase 200,000 $BNB tokens in a $160 million bet, making it the largest corporate holder of BNB.The move is part of the company’s new treasury strategy that will center exclusively on $BNB, and comes after a recent $500 million private placement led by 10X Capital and YZi Labs.BNC has overhauled its leadership to support the shift, the company said in a press release announcing the acquisition. David Namdar, co-founder of Galaxy Digital, is taking over as CEO, joined by Russell Read, former CIO at CalPERS, and Saad Naja, a former Kraken director. 10X Capital’s Hans Thomas and Alexander Monje have also joined the board.The company plans to continue acquiring $BNB until its treasury funds are fully deployed. If warrants tied to the fundraising are exercised, $BNC could have as much as $1.25 billion to invest in the token.CEA Industries’ shares are up 22.2% in pre-market trading at $20.9.