The Nasdaq-listed digital asset treasury company now holds 515,054 BNB tokens following the latest acquisition announced Wednesday.
BNB News
CEA Industries purchased over 15,000 BNB tokens valued at more than $13 million as cryptocurrency markets declined across major assets. The Nasdaq-listed digital asset treasury company now holds 515,054 BNB tokens following the latest acquisition announced Wednesday.
The purchase brings total holdings up from roughly 500,000 tokens reported last month when BNB traded near $1,150. The token climbed about 90% over the prior year but has since retreated alongside broader market weakness affecting Bitcoin and Ethereum.
BNB traded around $872 on Wednesday, over the past month according to price data. The decline mirrors similar percentage drops seen across Bitcoin and Ethereum during the same timeframe. BNB ranks as the fifth-largest cryptocurrency by market capitalization.
CEO David Namdar described the company's treasury management approach as disciplined and opportunistic. The firm executes purchases when market conditions align with long-term strategy rather than attempting to time short-term price movements, according to Namdar's statement to media outlets.
CEA Industries raised $500 million through a private placement in August to acquire BNB as its primary treasury reserve asset. The company also operates under the name BNB Network as it builds holdings in the digital asset.
A company spokesperson contrasted CEA's position with other digital asset treasuries facing pressure. Strategy's mNAV premium collapsed to 1.06x from 2.7x last year, while Solana treasury aggregate value fell from $3.5 billion to $2.1 billion, and convertible debt structures created forced-seller dynamics across the industry, according to the spokesperson's email statement.
YZi Labs, the family office investment firm of former Binance CEO Changpeng Zhao, supports CEA Industries as the company builds its BNB holdings. The strategic backing provides additional credibility to the treasury strategy focused on BNB Chain's native token.
CEA Industries shares traded at $5.12 on Wednesday afternoon under ticker BNC, up roughly 3% according to Yahoo Finance data. The stock performance showed investor confidence in the company's continued accumulation strategy despite recent price declines across crypto markets. The firm's staking and treasury approach aims to generate returns through both token appreciation and network rewards over time.
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