BNC Becomes Largest Corporate BNB Holder After $160M Buy

Nasdaq-listed BNB Network Company pivots to a crypto-first treasury strategy with the biggest corporate Binance Coin purchase to date.

Underscoring the rise of altcoin-focused treasuries, BNB Network Company (BNC) has acquired 200,000 BNB tokens for $160 million, cementing its position as the largest corporate holder of Binance Coin. The landmark purchase followed a $500 million private placement led by 10X Capital and YZi Labs, signaling a decisive shift toward a BNB-centric reserve strategy.

Corporate Pivot Marks BNB-Centric Future

BNC’s pivot comes with a complete leadership overhaul designed to steer the company into a crypto-first era. The Nasdaq-listed firm now trades under the ticker BNC and has aligned its treasury exclusively with BNB.

The new executive roster includes David Namdar, co-founder of Galaxy Digital, as CEO; Russell Read, former CIO at CalPERS; and Saad Naja, former Kraken director. 10X Capital’s Hans Thomas and Alexander Monje have joined the board of directors, further embedding crypto-native leadership.

The acquisition reflects a broader surge in corporate BNB adoption in 2025, with multiple publicly traded companies announcing large-scale purchases. In July, Hong Kong-listed Nano Labs bought 74,315 BNB for $50 million at an average price of $672.45. The company aims to secure 5–10% of BNB’s circulating supply via a $1 billion accumulation plan using convertible notes and private placements.

Meanwhile, Windtree Therapeutics secured up to $520 million to build one of the largest corporate BNB treasuries, allocating 99% of proceeds to BNB purchases after shareholder approval. Build and Build Corp is seeking $100 million to acquire BNB through publicly traded structures, offering institutional investors exposure to the Binance ecosystem without direct token custody—mirroring MicroStrategy’s Bitcoin accumulation strategy.

BNB’s bullish corporate momentum coincided with the token hitting a new all-time high of $861.2 and reaching a $119 billion market capitalization, surpassing Nike’s valuation of $112 billion.

Altcoin Treasuries Emerge as Bitcoin Dominance Falls

The BNB buying spree reflects a larger trend of public companies diversifying beyond Bitcoin into altcoins such as Ethereum, Solana, and XRP. Animoca Brands Research reports that companies revealing altcoin treasury holdings have seen average stock price surges of 150% in one day, 185% over a week, and 226% monthly.

Notable moves include:

• BitMine Immersion Technologies — Currently the largest corporate Ethereum holder with 1.2 million ETH.
• SharpLink Gaming — Nearly 599,000 ETH in holdings, with its systematic purchases and stock up sixfold since adopting an Ethereum treasury.
• BIT Mining — Plans to raise $200–300 million for a Solana treasury.
• DeFi Development Corp — Bought $2.7 million in SOL.
• Sol Strategies — Holds over 420,000 SOL and has filed for a Nasdaq listing under ticker “STKE.”

This shift comes as Bitcoin dominance slipped from 64.5% in June to 59.7% in August, reflecting the increasing share of capital flowing into alternative blockchain ecosystems.

Institutional Confidence in Binance Ecosystem

Institutional interest in BNB has been bolstered by Binance Chain’s market performance. In late July, BNB Chain led all blockchains in decentralized exchange (DEX) volume, recording $5.06 billion in a single day—outpacing Ethereum’s $3.54 billion and Solana’s $2.217 billion.

The network’s $3.96 million in daily application revenue also surpassed Ethereum’s $2.39 million, signaling robust ecosystem activity. Binance has supported this momentum with institutional-focused offerings, including Institutional Loans that provide up to 4x leverage without requiring asset consolidation. The program accepts over 400 collateral types, with BTC, ETH, and BNB exempt from haircut ratios.

On the user activity front, Binance saw up to 59,000 daily altcoin deposits during peak market periods—more than double Coinbase’s volume.

BNB’s success has also propelled Changpeng Zhao’s net worth to an estimated $75 billion, thanks to his roughly 64% ownership of BNB’s circulating supply—about 98 million tokens—alongside a 90% stake in Binance valued at $35 billion. This wealth places him among the 25 richest individuals globally.

Network Upgrades Aim at Institutional-Grade Performance

Following its Maxwell Upgrade in June, BNB Chain is preparing further enhancements to increase throughput to 20,000 transactions per second by 2026 with confirmation times under 150 milliseconds. Planned innovations include native privacy features and upgradeable virtual machines to better serve institutional needs and support large-scale treasury operations.

These upgrades are expected to strengthen BNB’s position in the corporate treasury market, offering fast, private, and scalable infrastructure that rivals or surpasses competing blockchains.

The Road Ahead for Altcoin Treasuries

BNC’s record-breaking BNB purchase represents more than just a corporate investment—it’s a symbol of the accelerating shift toward altcoin-based reserve strategies. As Bitcoin’s market share contracts and blockchain ecosystems mature, companies are increasingly aligning their balance sheets with high-performing network tokens.

Whether BNB can maintain its dominance in this emerging corporate treasury race will depend on sustained ecosystem growth, institutional adoption, and competitive upgrades. For now, the trend is clear: in 2025, altcoins are no longer an experimental addition to corporate portfolios—they are becoming the centerpiece.