CEA Acquires JPY 24 Billion Worth of BNB, Introduces Cryptocurrency Treasury Company for IP Tokens

On October 10, CEA Industries, a Nasdaq-listed e-cigarette company, announced through its subsidiary BNB Network Company the purchase of 200,000 BNB tokens, valued at $160 million (approximately JPY 24 billion). This acquisition makes the company the largest listed holder of BNB in the world. On October 5, the company announced the completion of a $500 million (approximately JPY 74 billion) private placement led by YZi Lab, an investment firm founded by Binance creator Changpeng Zhao (CZ). The funds raised were allocated for the purchase of BNB tokens, as part of a strategy centered around the BNB Chain ecosystem. On October 7, CEA Industries...