CEA Industries has announced the successful close of a $500 million private placement, backed by leading crypto investor YZi Labs, marking a major strategic shift into the world of blockchain finance. The deal, revealed on August 5, 2025, supports the company’s bold move to adopt BNB (Binance Coin) as its primary treasury reserve asset—making it one of the first public companies to pivot its treasury around the BNB ecosystem.
In addition to the initial raise, the agreement allows for up to $750 million in additional capital through warrant exercises, giving CEA a potential war chest of over $1.2 billion to deploy in its digital asset strategy.
New Nasdaq Ticker “BNC” Reflects Full Alignment With BNB Chain
Beginning August 6, CEA Industries will trade under a new Nasdaq ticker symbol: “BNC”, with accompanying warrants listed as “BNCWW.” The rebranding reflects the company’s commitment to the BNB Chain ecosystem and a wider digital-first strategy.
Incoming CEO David Namdar, a crypto industry veteran and co-founder of Galaxy Digital, described the rebrand as a foundational step toward building a more transparent, secure, and blockchain-integrated investment platform. Namdar, also a Senior Partner at 10X Capital, emphasized that this transition is not just cosmetic—it signals a deep operational and financial alignment with blockchain-native infrastructure.
Institutional Investors Back the Vision; New CIO Brings Pension Expertise
The private placement attracted over 140 institutional and strategic investors, including prominent firms such as Pantera Capital, GSR, and the family office of Rajeev Misra, former head of SoftBank’s Vision Fund. These investors bring both credibility and capital to CEA’s transition into crypto-focused treasury operations.
10X Capital will lead the management of the new BNB treasury, working closely with YZi Labs to optimize asset deployment and risk strategy. To further strengthen leadership, Russell Read, former Chief Investment Officer of CalPERS, will join as CEA’s new CIO, bringing decades of institutional asset management experience to the table.
Outgoing CEO Tony McDonald will remain actively involved as President and a board member, ensuring continuity during this transformational period.
