BNB Standard Corporation rang the NASDAQ opening bell alongside Alex Odagiu on Monday, after having been appointed CEO on October 19, 2026. This ceremony took place following a reorganization agreement of the board of directors, and at the same time, the company disclosed assets led by BNB, quarterly losses, as well as unresolved lawsuits surrounding its fund management agreements.
Key Points
- Alex Odagiu is reassigned from interim president to chief executive officer.
- As of July 31, 2026, BNB accounts for 93.1% of the company's assets.
- A lawsuit seeks to terminate the management agreement of 10X Capital.
The appointment of CEO under BNB Standard was completed following changes to the board of directors. Alex Odagiu has served as interim president since June 2026 and was subsequently promoted to CEO. He previously held the position of investment partner at YZi Labs and also worked as an investment banker at Goldman Sachs.
On September 29, 2026, the company adopted the name “BNB Standard Corporation” to replace “CEA Industries”, while retaining its NASDAQ stock code “BNC”. This new name was determined through a five-day voting process on the X platform, in which “BNB Standard” received approximately 47% of the 5,799 votes cast.
CEA's initial business was nicotine e-cigarettes, but after a private financing round of about $500 million in August 2025, the company transformed into a company that holds BNB, and claims to be the largest holder of this token in the world.
The performance of BNB Standard for the first quarter of fiscal year 2027 shows that as of July 31, 2026, the company held 515,544 BNB tokens, valued at approximately $302.3 million, which constitutes 93.1% of the total assets.
For the same quarter, the performance also showed that these token holdings resulted in 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, brought to an end the actions by YZi Labs to promote a reorganization of the board of directors and resulted in the addition of three new directors, including Odagiu. Subsequently, Odagiu was appointed as the Chief Executive Officer of BNB Standard, which was also a result of this governance arrangement being reached.
At the end of 2025, YZi Labs launched a consent solicitation attempt to reshape the board of directors, while criticizing the management team of CEA and its relationship with 10X Capital. The agreement reached in June also ended the proxy battle for YZi Labs.
The dispute between the 10X Capital managing the funds of BNC has yet to be resolved. BNB Standard is filing a lawsuit, requesting to cancel their asset management agreement; terminating this agreement could result in costs exceeding 100 million dollars. Additionally, it has been disclosed that there are significant deficiencies in the company's internal financial controls.
BNB Standard plans to operate the verification nodes on BNB Chain independently through a professional service provider, under the supervision of the company. Qualified hosting institutions will hold the staked tokens.
The company stated that the pledge rewards are not guaranteed, as they depend on factors such as network activity and online duration.
This article was generated with the assistance of artificial intelligence and has been reviewed by an editorial team.
