Hedge Fund Veterans Seek $100M to Back BNB Treasury in Nasdaq-Listed Venture
A team of experienced hedge fund professionals is preparing to raise $100 million to acquire Binance’s BNB token through a publicly listed shell company on the Nasdaq, marking a significant move toward integrating crypto assets into corporate treasuries.
Patrick Horsman, Joshua Kruger, and Johnathan Pasch, all former partners at Coral Capital Holdings, intend to transform an unnamed public company into Build & Build Corporation, according to Bloomberg. The rebranded entity would hold BNB as its core treasury asset, potentially making it the first publicly traded firm to adopt BNB as a reserve currency.
If successful, the initiative would allow equity investors to gain indirect exposure to BNB, following a model similar to how some public companies have added bitcoin to their balance sheets.
Interest in corporate crypto holdings continues to grow. Public companies now hold a combined total of roughly 834,779 BTC, valued at over $83.8 billion, according to BitcoinTreasuries data.
