Why This $500 Million Crypto Treasury Firm Chose BNB Over Bitcoin or Ethereum
The post Why This $500 Million Crypto Treasury Firm Chose BNB Over Bitcoin or Ethereum appeared on BitcoinEthereumNews.com. In brief CEA Industries chose BNB for its crypto treasury, picking it over more prominent assets like Bitcoin or Ethereum. Incoming CEO David Namdar believes the token hasn’t gotten enough attention and has been cut off from investors in the West. Shares of VAPE are down Tuesday, but up more than 336% in the last five trading days. Publicly traded consumer products firm CEA Industries is raising $500 million to buy crypto for its balance sheet—but it didn’t pick Bitcoin or Ethereum. Instead, it opted for BNB, the token created by cryptocurrency exchange Binance. And while the fifth-largest crypto token by market cap and its underlying network—BNB Chain—had a similar upbringing to ETH and Ethereum, incoming CEA Industries CEO David Namdar believes that it has evolved and grown to stand alone. However, he told Decrypt that many investors aren’t aware of the coin. “A lot of it really has been a non-U.S. story. Most of the Western capital markets investors, especially, have been completely cut off,” Namdar told Decrypt. “BNB really hasn’t been something that people have realized or paid enough attention to. And I think that’s part of the opportunity here, helping people understand all of the things and activity that is actually happening.” The firm announced details Monday of a plan that could see it raise up to $1.25 billion to purchase the coin—the same day BNB hit a new all-time high price of $858. The news sent shares of CEA Industries, which trades via the ticker VAPE on the Nasdaq Exchange, up more than 700% at one point. “I see it as the chain of the future,” said Namdar. “It might be the chain for AI and robotics opportunities—there’s a lot of different things that BNB can bring to the table.” The Galaxy Digital co-founder said that…
The post Why This $500 Million Crypto Treasury Firm Chose BNB Over Bitcoin or Ethereum appeared on BitcoinEthereumNews.com.
In brief CEA Industries chose BNB for its crypto treasury, picking it over more prominent assets like Bitcoin or Ethereum. Incoming CEO David Namdar believes the token hasn’t gotten enough attention and has been cut off from investors in the West. Shares of VAPE are down Tuesday, but up more than 336% in the last five trading days. Publicly traded consumer products firm CEA Industries is raising $500 million to buy crypto for its balance sheet—but it didn’t pick Bitcoin or Ethereum. Instead, it opted for BNB, the token created by cryptocurrency exchange Binance. And while the fifth-largest crypto token by market cap and its underlying network—BNB Chain—had a similar upbringing to ETH and Ethereum, incoming CEA Industries CEO David Namdar believes that it has evolved and grown to stand alone. However, he told Decrypt that many investors aren’t aware of the coin. “A lot of it really has been a non-U.S. story. Most of the Western capital markets investors, especially, have been completely cut off,” Namdar told Decrypt. “BNB really hasn’t been something that people have realized or paid enough attention to. And I think that’s part of the opportunity here, helping people understand all of the things and activity that is actually happening.” The firm announced details Monday of a plan that could see it raise up to $1.25 billion to purchase the coin—the same day BNB hit a new all-time high price of $858. The news sent shares of CEA Industries, which trades via the ticker VAPE on the Nasdaq Exchange, up more than 700% at one point. “I see it as the chain of the future,” said Namdar. “It might be the chain for AI and robotics opportunities—there’s a lot of different things that BNB can bring to the table.” The Galaxy Digital co-founder said that…
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