Mentioned:
A company on the Nasdaq is raising half a billion dollars in fresh capital. And they’re going to use it to become one of the world’s largest holders of Binance Coin.
What’s happening:
- CEA Industries (NASDAQ: VAPE) has announced a new $500M USD equity financing round for the sole purpose of accumulating Binance Coin
Why it matters:
- The new funding round is being led by Binance founder Changpeng Zhao’s family office YZi Labs
Going deeper:
- Upon the successful completion of the new equity financing round, co-founder of Galaxy Digital (NASDAQ: GLXY) David Namdar will lead the company
- Multiple prominent digital asset venture capital funds participated in the new funding round, including 10X Capital, Pantera Capital, Arrington Capital and Three Point Capital
The intrigue:
- This is not the first large scale deal in the public markets focused on accumulating Binance Coin, with Nano Labs (NASDAQ: NA) previously raising half a billion dollars through convertible notes for to begin purchasing Binance Coin
