Nasdaq-listed biopharmaceutical company Windtree Therapeutics has announced plans to raise up to $520 million specifically for the acquisition of BNB tokens as part of a broader $700 million allocation towards BNB purchases. The company has selected Kraken, a major cryptocurrency exchange, to provide secure custody, trading, and over-the-counter (OTC) services for its significant BNB holdings.
Windtree’s funding strategy includes a $500 million placement agreement alongside a separate $20 million stock-purchase agreement with Build and Build Corp. Market sentiment appears positively influenced, with the company’s stock surging 162% over the past month.
BNB, which originated with the Binance exchange, now functions as the native token of the BNB Chain ecosystem and boasts a current market capitalization estimated at approximately $107 billion. Windtree Therapeutics’ substantial commitment to BNB underscores a growing trend among corporations seeking to diversify treasury holdings with liquid digital assets, highlighting BNB’s prominence as a reserve asset in the evolving crypto market.