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The treasury strategy, popular for Bitcoin (BTC) and Ethereum (ETH), is increasingly spreading to altcoins.
At this point, one of the altcoins that has become popular in recent days is Binance Coin (BNB), the native token of Binance, the world's largest cryptocurrency exchange.
Accordingly, a company called CEA Industries announced that it will raise $500 million for the BNB treasury.
CEA Industries has announced an oversubscribed PIPE financing with the support of 10X Capital and YZi Labs to raise $500 million to establish the world’s largest publicly traded BNB-focused treasury company, according to an official statement.
This financing will make the company the largest publicly traded BNB Treasury Company in the US.
According to the statement, the company aims to transfer its funds into BNB through a special treasury vehicle.
More than 140 organizations participated in the financing, including giant institutions such as Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital.
Apart from CEA Industries, a company called Liminatus Pharma also announced that it plans to invest $500 million in BNB.
Nasdaq-listed healthcare company Liminatus Pharma has announced that it will establish a subsidiary called “American BNB Strategy” to phase in up to $500 million in BNB as part of its long-term digital asset strategy, according to an official statement.
Liminatus CEO Chris Kim stated that BNB was chosen among numerous digital assets due to its strong technology, global user base, value-creating features such as Launchpool participation and staking models, and the continuous expansion of the BNB Chain.
Meanwhile, Binance Coin (BNB) reached its new ATH today as it raced from record to record.
BNB has gained nearly 12% in the last seven days, surpassing $860. With a current market capitalization of $119.1 billion, BNB is also rising in the global asset rankings.
*This is not investment advice.