From VAPE to BNC: Nasdaq Firm Embraces Binance Coin in Major Rebrand
YZi Labs facilitated a $500 million private placement for CEA Industries Inc., a publicly traded firm on the Nasdaq, which has announced a comprehensive organizational change. Binance Coin (BNB) will now be the company’s main treasury reserve asset, marking the beginning of a significant strategic shift. A complete brand change to “BNB Network Company” and a change in the stock code from VAPE to BNC on the Nasdaq are part of this move. Tuesday, August 6, 2025, is when the adjustment will go into effect.
Pantera, Blockchain.com Join $500M+ Funding for Nasdaq Company’s BNB Pivot
More than 140 investors participated in the investment round, which was announced in a press release on Tuesday. Notable cryptocurrency companies, including Pantera Capital, Blockchain.com, GSR, and dao5, were among them. If all warrants are exercised, the venture, which is set up as a private investment in public equity (PIPE), may ultimately reach $1.25 billion.
According to the business, the significant additional funding will mostly be utilized to buy BNB tokens and improve its standing in the BNB Chain ecosystem. Although CEA Industries intends to continue operating its current business, this change represents a larger trend in which conventional businesses are integrating native blockchain assets into their financial strategies.
BNB Network Company Appoints Wall Street Heavyweights to Lead New Era
There is a new management team in place to oversee the new approach. The CEO position has been assumed by David Namdar, a senior partner at 10X Capital and a co-founder of Galaxy Digital. Russell Read, a former executive at Deutsche Bank Asset Management and CalPERS, joins him as Chief Investment Officer. Hans Thomas and Alexander Monje of 10X Capital will join the board of directors, while Tony McDonald, the company’s former CEO, will now serve as president. A group of renowned legal and financial firms oversaw the acquisition. Financial consultants were Clear Street and Cohen & Company, while Cantor Fitzgerald was the only advisor and placement agency.
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