CEA Industries Adds 30,000 BNB Tokens To Treasury With $26M Purchase

CEA Industries (BNC) announced on Wednesday that it had acquired an additional 30,000 BNB (BNB) tokens for its treasury at a cost of $26 million.

CEA Industries’ stock jumped nearly 10% in morning trade with retail sentiment on Stocktwits improving to ‘bullish’ from ‘neutral’ territory, accompanied by ‘high’ levels of chatter over the past day. However, since its listing on Nasdaq in July, the stock has fallen more than 45%. 

The company now has a total of 418,888 BNB tokens in its treasury, valued at around $368 million. It is currently the largest corporate BNB treasury. CEA Industries plans to acquire 1% of BNB’s total supply by the end of 2025, which amounts to approximately 1.4 million tokens. 

"We’re at the beginning of a $100–200 billion shift of capital into digital asset treasuries," said CEA Industries chief executive David Namdar, stating that he wants the company to be a winner in this wave. 

BNB is the native utility token of the Binance crypto exchange, integrated into the Binance ecosystem, including the blockchain infrastructure and exchange operations. It's currently the fifth-largest cryptocurrency in terms of market capitalization, valued at around $125 million. Unlike most altcoins, BNB is a deflationary digital asset. Binance burns 20% of its profits every quarter by either repurchasing or permanently retiring BNB.

BNB’s price also rose in morning trade, gaining 3% in the last 24 hours as the broader cryptocurrency market also recovered after the producer price index (PPI) report indicated that inflation may be contained, increasing optimism that the Federal Reserve may cut interest rates soon. However, retail sentiment around the altcoin on Stocktwits remained in ‘bearish’ territory over the past day amid 'low' levels of chatter.

Read also: Solana Hits 7-Month High, Dogecoin Slips Despite ETF Buzz As Bitcoin Stalls Ahead Of PPI Report

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