CEA Industries Inc. (Nasdaq: VAPE) has unveiled plans to create the largest public treasury of Binance Coin (BNB) in the U.S. through a $500 million private placement.
Private Placement Announcement
CEA Industries announced a $500 million private placement offering, comprising $400 million in cash and $100 million in cryptocurrency. There’s also potential to raise an additional $250 million through the exercise of warrants. This initiative will provide institutional and retail investors with regulated exposure to BNB, the fourth-largest cryptocurrency by market capitalization.
New Leadership Team
CEA Industries also announced a new executive team, led by David Namdar, co-founder of Galaxy Digital, appointed as CEO. Russell Read, the former CIO at CalPERS and Deutsche Bank, will serve as CIO, while Saad Naja, a former board member at Exinity and director at Kraken, joins as a senior advisor.
BNB as an Investment Vehicle
The company will retain its Nasdaq ticker symbol 'VAPE' and intends to publish regular disclosures related to its treasury activities, including BNB purchases, staking performance, and on-chain participation. This announcement comes amid growing institutional interest in digital assets beyond Bitcoin. CEA aims to bridge traditional finance and the digital asset economy by offering compliant, long-term access to one of the most active blockchain networks in the market.
CEA Industries aims to set a new standard for institutional and retail investors, offering them access to BNB in a regulated manner, which may change the landscape of cryptocurrency markets.
