BNB treasury race accelerates as Applied DNA, CEA Industries expand holdings
Applied DNA’s $27 million deal and CEA’s 500,000 BNB milestone highlight a growing trend of public companies adding Binance’s native token to their balance sheets.
Publicly traded companies are increasingly accumulating BNB, the native token of Binance’s layer-1 blockchain BNB Chain.
On Wednesday, shares of biotech firm Applied DNA Sciences jumped over 50% during the trading day, after the company revealed the purchase of 4,908 BNB (BNB) tokens valued at roughly $5.3 million.
The announcement followed the close of a $27 million private investment in public equity (PIPE) backed by institutional DeFi and TradFi investors.