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5d ago

BNC Executes First $160M Purchase to Become Largest Corporate BNB Holder

Rebranded to center on Binance Coin under fresh leadership, the firm intends to leverage warrant-backed financing to expand its BNB holdings up to $1.25 billion.

Cea industries becomes largest corporate holder of bnb with $160m buy
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Bnc invests $160 million in bnb, becomes largest corporate holder of bnb globally

Overview

  • BNC deployed $160 million from a $500 million private placement to acquire 200,000 BNB, securing the largest corporate stake in the token.
  • The financing, led by 10X Capital with backing from YZi Labs, includes warrants that could boost BNC’s buying power by an additional $750 million.
  • As part of the pivot, BNC rebranded from VAPE, named David Namdar as CEO and added two 10X Capital directors to its board.
  • The company plans to pursue staking and DeFi revenue opportunities on BNB Chain to monetize its growing token reserves.
  • Analysts view the purchase as a sign of rising institutional demand for altcoin treasuries but warn it may concentrate market influence.