BNB treasury adds over $13 million of token as crypto market retreats

CEA Industries Inc. (ticker BNC), a Nasdaq-listed digital asset treasury focused on BNB, announced it acquired over 15,000 BNB tokens, valued at more than $13 million. This purchase increases its total holdings to 515,054 BNB. The acquisition occurred while the crypto market, including BNB, has retreated; BNB was trading around $872 on Wednesday, down 20% over the past month, contrasting with its nearly $1,150 price point the previous month. CEO David Namdar stated the company's treasury management approach is "disciplined and opportunistic." CEA Industries previously raised $500 million in August via private placement to acquire BNB as its primary reserve asset, and the company also identifies as BNB Network. The company sought to distinguish itself from other digital asset treasuries facing premium collapses or forced-seller dynamics.

(Source：The Block)