TLDR
- CEA Industries added over 15,000 BNB tokens, worth $13 million, to its treasury.
- The company’s total BNB holdings now exceed 515,000 tokens.
- CEA Industries raised $500 million through a private placement in August to build its BNB treasury.
- BNB’s price has dropped 20% over the past month, reflecting broader market trends.
- CEO David Namdar emphasized the company’s disciplined approach to treasury management.
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CEA Industries Inc. (ticker BNC) announced Wednesday that it has added over 15,000 BNB tokens, valued at $13 million, to its treasury. This brings the company’s total BNB holdings to 515,054 tokens, up from approximately 500,000 last month. BNB, the native token of Binance, is currently trading at about $872, a 20% drop over the past month.
BNB Treasury Holdings Increase to Over 515,000 Tokens
CEA Industries has been increasing its BNB holdings as part of its strategy to build a robust treasury reserve. The company previously purchased BNB tokens at nearly $1,150 each, during a period when the asset surged 90% over the past year. However, the recent decline in BNB’s price reflects broader market trends affecting major cryptocurrencies, including Bitcoin and Ethereum.
“The market conditions align with our long-term strategy, allowing us to make disciplined purchases,” said CEO David Namdar in a statement. The company has raised $500 million through a private placement in August, aiming to solidify BNB as its primary treasury asset. This move is a clear demonstration of CEA Industries’ commitment to BNB.
CEA Industries Differentiates Its Treasury Management Approach
CEA Industries distinguishes itself from other digital asset treasuries (DATs) with its approach to treasury management. A spokesperson for the company noted that unlike others, such as Strategy, which saw its mNAV premium drop, CEA remains focused on long-term strategies. The company also compared its approach to Solana’s, which saw its treasury value drop significantly over recent months.
The company’s approach contrasts with the forced-seller dynamics seen across the cryptocurrency market. CEA Industries continues to execute purchases when market conditions support its strategy, avoiding quick moves based on short-term market fluctuations.
With the backing of YZi Labs, a family office investment firm led by former Binance CEO Changpeng Zhao, CEA Industries remains a key player in the crypto treasury space. The company’s shares, BNC, were trading at $5.12 per share on Wednesday afternoon, up about 3%.
