Nasdaq-listed company BNC, formerly known as CEA Industries and before that VAPE, has acquired 200,000 Binance Coin (BNB) tokens valued at $160 million, making it the largest corporate holder of BNB globally. This acquisition was financed through a $500 million private placement led by 10X Capital and YZi Labs. BNC, which has pivoted its treasury strategy exclusively to BNB, plans to continue buying BNB until the initial treasury capital is depleted and may seek an additional $750 million in capital. The company is led by CEO David Namdar, co-founder of Galaxy Digital. This move signals a strategic shift from its previous business focus to building a substantial crypto treasury. The purchase has also contributed to renewed institutional momentum for BNB, which is trading near its yearly high. The $2 trillion total trading volume on the BNB Chain underscores the growing adoption of the token.