While Binance’s native token, BNB, has historically been prominent within crypto circles, recent months have seen increased participation from traditional and publicly traded companies. Notably, biotech firm Applied DNA Sciences disclosed a purchase of 4,908 BNB tokens valued at around $5.3 million. The acquisition occurred after a $27 million private investment round backed by both decentralized finance (DeFi) and traditional financial (TradFi) investors, marking a significant endorsement from institutional players.
The private funding included $15.3 million in cash and stablecoins, alongside $11.7 million in OBNB Trust units, totaling indirect ownership of approximately 10,647 BNB tokens. Shareholder approval is pending for the transfer of BNB-linked warrants.
Applied DNA Sciences plans to leverage the proceeds for a treasury strategy focused on yield generation, with a significant portion tied to BNB holdings, according to CFA Chief Investment Officer Patrick Horsman.
This strategic move by a publicly traded firm echoes a broader trend, with CEA Industries Inc., a Canadian vape company, having acquired 500,000 BNB tokens at an average of $870 each—aiming to own 1% of BNB’s total supply by year’s end. Such institutional accumulation indicates growing confidence in BNB’s long-term potential amidst recent market fluctuations.
Bloomberg reported that China Renaissance Holdings Ltd., an investment bank based in Beijing, is in talks to raise approximately $600 million to establish a digital-asset treasury in the United States dedicated to acquiring BNB, highlighting international interest.
In parallel with rising institutional engagement, BNB’s price surged past Ripple’s XRP to become the third-largest cryptocurrency by market capitalization on Oct. 7. Less than a week later, it hit a new all-time high of $1,370, driven by market optimism and fundamental strength, according to traders and analysts.
“BNB remains the most overlooked blue-chip in the crypto market,” said CEA Industries CEO David Namdar. “The rally reflects the market catching up to the token’s underlying fundamentals.”
However, Binance has faced recent setbacks. Following a crypto market crash on Oct. 12 that liquidated roughly $19 billion across exchanges, Binance endured technical glitches, including the temporary depegging of Ethena’s stablecoin USDe and multiple altcoins crashing to zero due to system errors.
In response, Binance announced a $400 million relief fund for affected traders and an additional $45 million BNB airdrop specifically targeting memecoin traders who suffered losses during the turbulent period.
At present, BNB trades around $1,080, down approximately 21% from its recent peak, illustrating the ongoing volatility within the crypto markets.
Despite these setbacks, BNB’s surge and institutional backing highlight its rising importance within the crypto landscape, even amid regulatory scrutiny and market challenges.
This article was originally published as Applied DNA and CEA Industries Boost Corporate Treasuries with BNB Integration on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.
