CEA Industries Pivots to Crypto with $500M Plan to Build Largest Public BNB Treasury

CEA Industries (VAPE), a Canadian vape company, is transforming into a publicly traded BNB treasury, fueled by a US$500M+ private placement and US$750M in warrants, creating up to US$1.25B in capital.
News of the strategic shift caused VAPE’s share price to surge nearly six-fold, from US$8.88 to US$57.5.
The project will provide traditional investors direct exposure to the BNB Chain through staking and lending, effectively becoming a major gateway for institutional BNB investment.

In quite an interesting and specific turn of events, CEA Industries Inc. (VAPE) stunned the market Monday after unveiling plans to reinvent itself as a massive on‑ramp for BNB investments in the United States.

The thinly traded Canadian vape company saw its share price erupt from US$8.88 (AU$13) on Friday to US$57.50 (AU$87) at Monday’s close — a near six-fold leap — before falling back to US$40.98 (AU$62.88) by Tuesday’s close, according to data from TradingView.

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CEA to Build Dedicated BNB Treasury

The frenzy followed news of a planned US$500M (AU$768M) private share placement paired with US$750M (AU$1.15B) in potential warrant proceeds, giving CEA up to US$1.25B (AU$1.92B) in capital to build a dedicated BNB treasury.

The transformation is being orchestrated with the help of investment firm 10X Capital and YZi Labs, a group that once branded itself as the family office of Binance co-founder Changpeng Zhao (CZ).

Incoming chief executive David Namdar, a 10X Capital senior partner and co-founder of Galaxy Digital, pitched the plan as a gateway into one of the busiest blockchain ecosystems in existence, arguing that institutional access to BNB has been “largely closed off until now”.

BNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now. By creating a U.S.-listed treasury vehicle, we are opening the door for traditional investors to participate in a transparent way. This is a significant step in bridging digital assets and mainstream capital markets.

David Namdar, CEA’s incoming CEO.

BNB has maintained tight brand recognition with Binance since its 2017 debut, even as the exchange stepped back from direct development for regulatory reasons, as many other projects have.

The token briefly set a new record above US$858 (AU$1,317) on Monday.