Wu learned that CEA Industries Inc. (formerly trading under the code: VAPE, will be renamed to BNC), a publicly listed company in the United States, announced the completion of a $500 million private placement financing, led by YZi Labs. The funds will be used to implement a treasury reserve strategy centered around BNB, and the company plans to issue additional warrants to raise up to $750 million. The company will be renamed BNB Network Company starting August 6, with the stock code changing to BNC, becoming the first publicly traded company in the U.S. to have BNB as its primary reserve asset.

10X Capital will serve as the treasury strategy asset manager, with over 140 institutions and individuals participating in this round of investment, including Pantera, GSR, Arrington, and the founders of Bitfury. Former Galaxy Digital co-founder David Namdar has been appointed as CEO.