CEA Industries, listed under NASDAQ code BNC, initiated an advisory renaming vote. In the end, BNB Standard received 46.8% of 5799 votes, BNB Treasury Company 27.8%, BNB Strategies 17.5%, and BNB Reserve 7.9%. The company clarified that this is not a shareholder vote, does not constitute a proxy solicitation, and the results are non-binding on the board of directors. The official name still requires board approval, trademark review, and compliance with NASDAQ and Nevada state rules.

Binance founder Changpeng Zhao voted as a community member, choosing BNB Standard. He stated that the abbreviation for Treasury Company could be confused with BTC, Strategies could evoke MicroStrategy's ticker MSTR, and Reserve seems too conservative, while Standard has more strength. The company has already presented itself as BNB Network Company, while the legal entity remains CEA Industries. The naming responses were declared non-confidential and do not create any rights.

This company transitioned from an e-cigarette business to a BNB treasury in August 2025: YZi Labs led a private placement of approximately $500 million, with warrants theoretically able to refinance about $750 million, changing its code from VAPE to BNC. David Namdar was appointed CEO, and Russell Read as investment director. As of July 31, 2026, it held 515,544 BNB, with a fair value of approximately $302.3 million, digital assets accounting for about 93.1% of total assets; the weighted average cost was about $865.99, with an end price of about $586.36, and a cost basis of about $446.5 million. The net loss for the quarter was approximately $11.4 million, primarily due to unrealized losses in digital assets of about $15.3 million.

The treasury did not stake BNB. Custody is managed by Binance ecosystem institution Ceffu. The company borrowed stablecoins using BNB as collateral to maintain liquidity and repurchased about 1.43 million shares, costing about $3.8 million. Management claims it is the world's largest corporate BNB treasury. During the same period, there were lawsuits related to asset management agreements and a board restructuring, and after reaching a cooperation agreement with YZi Labs, the board was expanded. The tokenized stock BNCB on Binance bStocks surged about 30% during trading after the voting statement.

Who is buying and who is selling: Buyers are listed shells and tokenized stocks with BNB beta, while sellers are narratives around voting and brand associations. The event was driven by the renaming vote and Zhao's statement, with funds rotating between discounted net value stocks, warrants, and on-chain tokenized shares, without changing the locked quantity of 515,544 BNB. Beneficiaries are short-term traders during the voting period, while long-term holders still disclosing as an e-cigarette entity and with mNAV below 1 are under pressure. Pricing power lies with the board and legal review, not with these 5799 votes.

Recent on-chain holdings have not seen significant increases or decreases; price fluctuations stem from secondary stocks and tokenized certificates, rather than treasury buy or sell announcements.

Source: Public information