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Title: BNC Becomes World’s Largest Corporate BNB Holder
Nasdaq-listed BNC, formerly known as VAPE, has made a significant move in the cryptocurrency market by purchasing 200,000 BNB tokens worth $160 million. This acquisition has propelled them to become the largest corporate holder of BNB worldwide.
The funding for this purchase was secured through a private placement led by 10X Capital and YZi Labs, amounting to a staggering $500 million. In an ambitious move, BNC has revealed its intention to increase its investment in BNB up to $1.25 billion through the use of warrants.
By focusing its treasury strategy entirely on BNB, BNC aims to strengthen institutional exposure to the Binance Coin ecosystem. This strategic decision highlights the company’s commitment to embracing the rapidly evolving digital asset landscape and its confidence in the long-term potential of BNB.
In light of this development, it will be interesting to monitor how BNC’s actions influence market dynamics and shape the trajectory of the cryptocurrency space moving forward.
Source: coinpedia.org
