TechFlow, August 11 — BNB Network Company (NASDAQ: BNC), a publicly traded company, announced the acquisition of 200,000 BNB tokens for approximately $160 million, making it the largest corporate holder of BNB globally. The company previously completed a $500 million private placement led by 10X Capital and has established BNB as its primary reserve asset.
The company has completed a management restructuring, appointing David Namdar, co-founder of Galaxy Digital, as Chief Executive Officer, with Russell Read, former Chief Investment Officer of the California Public Employees' Retirement System (CalPERS), and Saad Naja, former executive at Kraken, joining the management team.
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