BNB sets altcoin market abuzz amid major Wall Street treasury bets – Crypto News – Crypto News
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BNB hits a new all-time high BNB hits a new all-time high

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BNB sets altcoin market abuzz amid major Wall Street treasury bets – Crypto News

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  • BNB price rallied to new all-time highs amid major institutional interest.
  • After Nano Labs earlier in the day, CEA Industries Inc. (Nasdaq: VAPE) and 10X Capital are eyeing up to $1.25 billion to buy BNB.
  • Initiative could see BNB price explode in coming days.

BNB price soared to a new all-time high of $859 on Monday as an unprecedented institutional interest and strategic corporate investment bet in the digital asset emerged.

With Nano Labs doubling down on BNB earlier in the week, it was another Wall Street firm that added to the frenzy of publicly traded companies eyeing BNB.

That initiative is the plan to raise up to $1.25 billion for BNB by CEA Industries Inc. and 10X Capital – backed by Binance founder Changpeng Zhao’s YZi Labs.

BNB price hovered around $847 at the time of writing.

CEA Industries and 10X Capital’s takes bold BNB bet

On Friday, CEA Industries Inc. (Nasdaq: VAPE) and 10X Capital, backed by YZi Labs, announced a $500 million private placement.

The companies are looking to establish the largest publicly-listed BNB treasury company in the U.S.

The deal, which could reach $1.25 billion with exercised warrants, aims to acquire substantial BNB holdings, and will offer institutional and retail investors exposure to the BNB Chain ecosystem.

Led by David Namdar, co-founder of Galaxy Digital, and Russell Read, former chief investment officer of CalPERS, the initiative comes as BNB stands out.

The coin’s surge to a new all-time high puts these plans into sharper focus, bringing more attention to the cryptocurrency.

“Treasury companies have proven to be the cleanest, most transparent gateway for institutions to access digital assets. With BNB powering hundreds of millions of users globally, this marks the right time for a well-capitalized BNB treasury company to enter the U.S. market,” said Hans Thomas, founder and CEO of 10X Capital.

The PIPE has attracted over 140 subscribers, with both institutional and crypto-natives joining in.

Apart from YZi Labs, others are Pantera Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Kenetic, and Protocol Ventures.

BNB, SOL, and XRP gains amid treasury strategies

BNB’s price surge aligns with broader market enthusiasm for digital asset treasuries.

Trading at $847 with a 4.6% daily gain and $3.9 billion in trading volume, BNB is eyeing a potential breakout to $1,000 or higher.

Much of the upside comes amid a surge in BNB treasury commitments- efforts also seen across Solana, XRP and Ethereum.

For BNB, such efforts include Nano Labs and Windtree Therapeutics, which recently revealed a $700 million commitment towards a BNB treasury strategy.

Elsewhere, VivoPower International has launched an XRP-focused treasury, while Upexi and DeFi Development Corp have its eyes on SOL as a treasury asset.
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