BNC has pivoted its business to a treasury strategy focused exclusively on BNB (the native token of BNB Chain). Stock Titan+2CoinCentral+2
The company raised a $500 million private placement (with backing from groups like 10X Capital, YZi Labs) to fund this plan. MEXC+2CoinCentral+2
It acquired 200,000 BNB tokens (~$160 million) in its first major purchase, making it the largest corporate holder of BNB globally. BSC News+2FinanceFeeds+2
More recently, BNC has expanded its holdings to over 350,000 BNB. GlobeNewswire+1
They have warrants allowing them to raise up to $750 million more, meaning total BNB purchases might reach ~$1.25 billion. MEXC+3FinanceFeeds+3CoinCentral+3
They also have a target of owning ~1% of the total BNB supply by the end of 2025. Stock Titan+2Equity Insider+2
In short: BNC is positioning itself as a pure-play BNB treasury vehicle — giving investors exposure to BNB (and the BNB ecosystem) via a Nasdaq‑listed company, without requiring them to hold the token directly.