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CEA Industries has revealed that it now holds 480,000 BNB tokens, solidifying its position as the largest publicly reported BNB treasury as the cryptocurrency hit record highs.
The company seeks to acquire 1% of BNB’s total supply by the end of 2025, showing its aggressive strategy to become the leading institutional holder of Binance’s native token.
The firm disclosed that its average acquisition cost for BNB is $860 per token, translating to roughly $412.8 million in total investment.
As of October 6, the holdings were valued at $585.5 million. Alongside its crypto assets, CEA reported $77.5 million in cash and equivalents, bringing its total crypto and cash reserves to $663 million.
CEA Industries Joins the Ranks of Major Crypto Treasuries
The announcement comes amid a record-breaking rally for BNB, which surged to an all-time high of $1,236.74 on October 6, lifting its market capitalization beyond $170 billion.
That valuation placed BNB just behind XRP and Tether and roughly 33% higher than Solana’s $127 billion market cap.
The milestone also cements CEA’s status among the biggest digital-asset treasury firms, joining the ranks of companies like Strategy, known for its massive Bitcoin holdings, and Bitmine Immersion Technologies, which holds the largest Ethereum treasury.
Commenting on the achievement, CEA’s CEO David Namdar described BNB’s record performance as a validation of the asset’s long-term potential.
“BNB’s all-time highs are a clear validation that global markets are waking up to the inherent value, credibility, scale, and utility of both the asset and its underlying ecosystem,” Namdar said. “We view BNB not just as a token but as the fulcrum of a massively integrated ecosystem.”
Namdar, a co-founder of Galaxy Digital and senior partner at 10X Capital, has led CEA’s transformation into a crypto treasury company over the past year. The firm, once a Canadian vape manufacturer, rebranded and shifted into digital-asset accumulation after a series of capital raises in mid-2025.
In June, its shares soared nearly 550% in a single day after announcing plans to become the largest BNB treasury company in the U.S.
CEA secured a $500 million private share sale to investors, backed by 10X Capital and YZi Labs, an investment firm previously associated with Binance co-founder Changpeng Zhao.
Through that deal and additional exercised warrants, the company could access up to $1.25 billion in funding to expand its BNB purchases.
At the time, Namdar said the firm’s goal was to create a U.S.-listed “BNB treasury vehicle” that would offer traditional investors transparent exposure to the BNB Chain ecosystem.
BNB Climbs to Third-Largest Crypto by Market Cap as Corporate Treasuries Expand
Following the capital raise, CEA began scaling its holdings through a mix of market acquisitions and structured purchases.
It has since become the largest corporate holder of BNB, surpassing earlier entrants like Hong Kong-listed Nano Labs, which disclosed a $50 million BNB purchase in July, and U.S.-listed Windtree Therapeutics, which announced plans to allocate most of its $520 million funding round to BNB.
The timing of CEA’s accumulation coincides with a broader wave of institutional interest in BNB. In August, B Strategy launched a $1 billion BNB-focused treasury backed by YZi Labs and Asia-based family offices linked to Binance’s founder.
Several other Nasdaq-listed firms have also declared intentions to build similar BNB-denominated treasuries as the token gains traction among traditional investors.
BNB’s surge has been driven by a combination of ecosystem expansion, institutional inflows, and broader crypto market strength. On October 6, BNB briefly crossed $1,300 for the first time, overtaking XRP to become the world’s third-largest cryptocurrency by market capitalization.
The 19% weekly rally lifted its market cap to over $154 billion, trailing only Bitcoin and Ethereum. The rise followed Bitcoin’s own climb to $126,000 as investors turned to crypto amid a U.S. government shutdown, viewing digital assets as a hedge.
BNB Chain itself has seen record activity. The network now processes more than 2.44 million daily active addresses and $4.14 billion in decentralized exchange volume, according to DeFiLlama.
Its total value locked in DeFi protocols reached $9.27 billion, up 2.5% in 24 hours, while network fees generated over $4.4 million daily.
Roughly 30% of BNB’s circulating supply is currently staked, with validators recently proposing a 50% cut in gas fees and faster block times to boost competitiveness against Solana and Base.
BNB’s momentum has also gained institutional validation abroad.
In late September, Kazakhstan announced it would include BNB as the inaugural asset in its Alem Crypto Fund national reserve.
The decision, combined with expanding corporate treasuries like CEA’s, has fueled confidence in BNB’s long-term position within the global digital economy.
