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2025-08-11 15:32

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BNC Holds the Largest BNB Position Globally, Signaling Confidence in BNB's Long-Term Value

On August 10, 2025, Nasdaq-listed company BNC (formerly VAPE, Nasdaq code: BNC) announced that it had invested approximately $160 million to acquire 200,000 BNB tokens, becoming the largest corporate BNB holder globally. The funding for this acquisition came from a $500 million private placement earlier this year led by 10X Capital and YZi Labs, which will be dedicated to building a reserve strategy with BNB as the sole core asset.

Focus on BNB's New Financial Strategy

Following a rebrand and strategic realignment, BNC has fully focused its fund management business on BNB and restructured its executive team: Galaxy Digital co-founder David Namdar has been appointed CEO, former California Public Employees' Retirement System (CalPERS) CIO Russell Read and former Kraken executive Saad Naja have joined the management team; 10X Capital founding partner Hans Thomas and partner Alexander Monje have joined the board.

Why Bet on BNB

BNB is the native token of the BNB Chain, which is one of the world's most active Web3 developer and user ecosystems, currently ranked fourth globally by market capitalization, with a Total Value Locked (TVL) of $12.3 billion, ranking third globally. With a deflationary burn mechanism, a continuously growing on-chain activity, and potential catalysts such as a BNB spot ETF, BNB is seen as an asset with significant long-term appreciation potential.

Profound Impact on the Market and Industry

BNC's $160 million holdings have positioned it as the world's largest institutional BNB reserve. The current BNB ecosystem has approximately 250 million users, with a daily trading volume of $9.3 billion, but is still relatively underexposed in the U.S. market. BNC plans to act as a bridge to facilitate more institutional capital entering the BNB ecosystem.

Future Plans

BNC will continue to increase its BNB holdings until the initial funds are fully deployed; additionally, the company can raise up to an additional $750 million through a warrant structure, with the total fundraising expected to reach close to $1.25 billion, to further expand the BNB reserve. This will provide channels for U.S. and global investors to gain exposure to BNB without directly holding it.

With the $160 million entry and $500 million capital support, BNC has not only established its position as the world's largest corporate BNB reserve but also demonstrated a strong confidence in the long-term development prospects of the BNB Chain, aiming to place BNB at the core of U.S. institutional investment interest.

About YZi Labs

YZi Labs manages over $10 billion in assets globally, adhering to an "impact-first" investment philosophy—believing that significant returns come from meaningful change. The company covers investments across all stages, with a focus on Web3, artificial intelligence, and biotech. Its portfolio spans 25+ countries across six continents, encompassing 300+ projects, with over 65 companies from its incubation program.

About 10X Capital

10X Capital is a next-generation investment firm dedicated to driving the digital transformation of assets and infrastructure, connecting institutional capital with global high-quality opportunities across public and private markets, portfolio companies, treasury operations, and related investment banking services. Leveraging expertise in corporate development, asset and treasury management, and capital markets, 10X Capital builds digital asset treasury enterprises, devising disruptive strategies with global impact.

About BNC

BNC (Nasdaq: BNC) is a publicly listed company focused on building and managing the world's largest Binance Coin (BNB) corporate treasury, providing investors with institutional-grade BNB investment exposure.

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