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CEA Industries Inc., a Canadian vape company, saw its stock surge by 550% following its pivot into digital assets.<\/p>\n
The entity announced it had priced an oversubscribed and upsized PIPE financing round, backed by 10X Capital and YZi Labs, in a bid to transform into a BNB-focused treasury vehicle.<\/p>\n
In an official press release, CEA said<\/a> that it aims to become the largest publicly traded BNB treasury company in the United States and bring institutional exposure to Binance\u2019s native Layer 1 blockchain asset. The PIPE, priced above market, attracted over 140 subscribers from across the globe, including leading crypto investment firms like Pantera Capital, GSR, and Blockchain.com.<\/p>\n Post-closing, CEA said that it plans to begin deploying capital into BNB.\u00a0The company\u2019s new leadership includes crypto veterans David Namdar (Galaxy Digital co-founder), Russell Read (former CIO of CalPERS and Deutsche Bank Asset Management), and Saad Naja (formerly of Kraken and Exinity).<\/p>\n This pivot represents one of the first institutional-scale vehicles providing BNB exposure through public markets.<\/p>\n Talking about the development, Namdar said,<\/p>\n \u201cBNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now. By creating a US-listed treasury vehicle, we are opening the door for traditional investors to participate in a transparent way. This is a significant step in bridging digital assets and mainstream capital markets.\u201d<\/p>\n<\/blockquote>\n The latest development comes just days after Nasdaq-listed Windtree Therapeutics announced<\/a> plans to raise $520 million to expand its BNB crypto reserves. The raise includes a $500 million equity line of credit (pending shareholder approval) and a $20 million stock purchase agreement with Build and Build Corp.<\/p>\n It said 99% of proceeds will go toward acquiring BNB. The company has partnered with Kraken for custody and trading support.<\/p>\n Windtree joins a growing list of firms, including Nano Labs, turning to BNB over Bitcoin or Ethereum as institutional altcoin adoption gains momentum.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
Treasury Diversification Ramps Up<\/h2>\n
\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n