American-based BNB Network Company (BNC), which is the treasury management arm of CEA Industries, has recently purchased 200,000 BNB. In its recent disclosure, the company stated that it acquired the crypto asset for $160 million.
Since August 6, 2025, CEA Industries, formerly trading under the ticker “VAPE,” has officially changed its Nasdaq symbol to BNC. The move aligns with its launch of the BNB Network Company, focused on a BNB-based treasury strategy.
BNC Purchases $160M BNB
The 200,000 BNB acquisition marks the firm’s first foray into digital asset treasury. Interestingly, the move establishes BNC as the world’s largest corporate holder of BNB, the native asset of the Binance Smart Chain network. Following the announcement, the crypto asset achieved a modest 2% gain, which is not spectacular given the general market sentiment today.
The initial acquisition follows a $500 million private placement led by 10X Capital and YZi Labs, aiming to fund BNC’s transition into a “crypto-first” treasury company. Focusing on BNB as the central reserve asset, the company hinted that it may tap up to $750 million more to bolster its BNB holdings to a $1.25 billion valuation.
Notably, BNB is the fifth-largest crypto asset by market cap. The firm aims to use the established treasury to provide capital appreciation, staking utility, and institutional exposure to BNB. The initiative mirrors the crypto moves of other firms such as 10X Nano Labs, which manages a BNB treasury currently valued at over $104 million.
To remain committed to its new focus, Galaxy Digital co-founder David Namdar leads BNC as the Chief Executive Officer (CEO). Former CalPERS CIO Russell Read and ex-Kraken director Saad Naja support him. Recall that CTW reported 10X Capital’s interest in creating a BNB treasury company. Tolling that line, its founders have joined the board.
Arthur Hayes Doubles Down on Altcoins
According to blockchain data, individual market participants are also interested in altcoins. BitMEX co-founder Arthur Hayes recently increased his crypto holdings. He purchased 1,500 ETH ($6.35 million), along with other DeFi assets such as 424,000 LDO, 420,000 ETHFI, and 185,000 PENDLE.
Arthur Hayes(@CryptoHayes) bought 1,250 $ETH($5.29M), 424,863 $LDO($556.6K), 420K $ETHFI($516.6K), and 92K $PENDLE($507K) ~8 hours ago.https://t.co/1HymJRPhcjhttps://t.co/2jwxKhfl4D pic.twitter.com/lPoLgOl08f
— Lookonchain (@lookonchain) August 10, 2025
The redeployment of over $8 million follows Hayes’s earlier bearish stance when he predicted sharp drops in Ether and Bitcoin prices. The swift buy-back comes at a time when some users believe the charts have topped, marking a profit-taking period.
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