BNB Standard Corporation rang the Nasdaq opening bell on Monday alongside Alex Odagiu, who was appointed CEO on October 19, 2026. The ceremony took place following a board restructuring agreement, during which the company also disclosed its BNB-dominated assets, quarterly losses, and unresolved litigation surrounding its fund management agreement.
Key points
- Alex Odagiu has been promoted from interim president to CEO.
- As of July 31, 2026, BNB accounted for 93.1% of the company's assets.
- A lawsuit seeks to terminate the management agreement with 10X Capital.
The appointment of BNB Standard’s CEO was completed following board changes. Alex Odagiu, who served as interim president since June 2026, has since been promoted to Chief Executive Officer. Previously, he was an investment partner at YZi Labs and an investment banker at Goldman Sachs.
On September 29, 2026, the company adopted the name "BNB Standard Corporation," replacing CEA Industries, while retaining the Nasdaq stock ticker BNC. The name was selected from a five-day poll on X, where "BNB Standard" received approximately 47% of the 5,799 votes.
CEA originally operated in nicotine e-cigarettes, but after a $500 million private funding round in August 2025, the company transitioned into a BNB-holding entity and claims to be the world’s largest corporate holder of this token.
The first quarter fiscal year 2027 results for BNB Standard show that, as of July 31, 2026, the company held 515,544 BNB tokens, valued at approximately $302.3 million, representing 93.1% of total assets.
The same quarter's results also showed that these token holdings generated an unrealized loss of $15.3 million, while the company's overall net loss was $11.4 million.
A cooperation agreement dated June 23, 2026, concluded YZi Labs' efforts to restructure the board, adding three directors, including Odagiu. Subsequently, Odagiu was appointed CEO of BNB Standard, as a result of this governance arrangement.
At the end of 2025, YZi Labs launched a proxy solicitation aimed at reshaping the board while criticizing CEA’s management team and its relationship with 10X Capital. The agreement reached in June also ended YZi Labs’ proxy contest.
The dispute with 10X Capital, which manages BNC funds, remains unresolved. BNB Standard is suing to terminate its asset management agreement; terminating this agreement could incur costs exceeding $100 million. Additionally, it has been disclosed that the company has significant deficiencies in its internal financial controls.
The BNB Standard plan involves operating a validation node on the BNB Chain through a professional service provider under company oversight. Qualified custodians will hold the staked tokens.
The company states that staking rewards are not guaranteed, as they depend on factors such as network activity and uptime.
This article was generated with the assistance of artificial intelligence and reviewed by the editorial team.