In an official announcement dated July 28, CEA Industries and 10X Capital announced a $500 million private placement to establish the largest publicly-listed BNB Treasury company in the world. The move is supported by YZI Labs, formerly known as Binance Labs.
CEA Industries is a leader in controlled environment agriculture, and 10X Capital is a next-generation merchant bank focused on digital transformation, previously serving as a financial advisor at Nakamoto.
A BNB Treasury of Up to $1.25 Billion
According to the official reports, this new offering consists of a common equity called PIPE that is set to deliver $500 million in gross proceeds, with $400 million in fiat and $100 million in crypto. It will also include $750 million in fiat, which could be received from exercise warrants that will be issued in the private placement.
Per total, the PIPE offering has the potential to deliver $1.25 billion of gross proceeds.
The proceeds that could surpass $1 billion will reportedly be used to establish the largest publicly listed BNB Treasury in the world.
A New BNB Treasury Strategy
This new BNB Treasury Strategy will be led by:
- CEO David Namdar (the co-founder of Galaxy Digital and Senior Partner at 10X Capital
- CIO Russell Read (former CIO at CalPERS and CIO of 10X Capital)
- Saad Naja (former director at Kraken and executive board director at Exinity global brokerage firm)
It’s also worth noting that 10X Capital will serve as the asset manager of the BNB Treasury, supported by YZI Labs.
There are over 140 subscribers who participated in the offering, including YZI Labs, Pantera Capital, Arche Capital, GSR, Reciprocal Ventures, G-20 Group, and more. Also, the founders of BitFury took part in the offering as well.
This transaction is expected to close at the end of July 2025.
Rising Demand for BNB Exposure
This new partnership mirrors an increasing global demand for BNB exposure. The CEO of the new company, Namdar, stated that BNB Chain is one of the most widely used blockchain ecosystems in the world, and so far, institutional access has been limited.
He highlighted that by creating this new BNB Treasury, the door will open wide for institutional investors, marking an important step in bridging digital assets and mainstream capital markets.
Today’s important BNB-related announcement came as the digital asset reached a new ATH above $858, two weeks after its 8th anniversary.
