- A group of former crypto fund managers plans to raise $100 million to acquire BNB as a core holding for a public company.
- Build & Build Corporation will become the first listed company to hold BNB on its balance sheet as a main treasury asset.
- This strategy mirrors the Bitcoin treasury approach seen among public companies, expanding into other major digital assets.
- Fundraising is expected to conclude within the month, with the company set for a rebrand before accumulating BNB tokens.
- The move provides public investors with direct exposure to the Binance ecosystem through a regulated market entity.
A team led by former hedge fund executives is working to secure $100 million to form a public company focused on holding BNB, the cryptocurrency issued by Binance. The initiative will make Build & Build Corporation the first publicly listed firm to use BNB as a strategic reserve asset.
Patrick Horsman, Joshua Kruger, and Johnathan Pasch, all previously with Coral Capital Holdings, are leading the fundraising. According to documents obtained by Bloomberg, the effort will conclude this month. Once completed, the company will undergo a rebranding and start acquiring BNB tokens. No further comments on the progress were provided by the team.
Recent trends show more public companies adopting cryptocurrencies, primarily Bitcoin, as treasury assets. The trend followed policy changes by the U.S. government that support digital assets and proposals to integrate Bitcoin into national reserves. Notable companies pursuing this approach include Twenty One, backed by Tether Holdings and Nakamoto Holdings.
The practice, originally seen with the Bitcoin-focused strategy of MicroStrategy, is now expanding. Companies are targeting a range of top digital assets, including Ethereum, XRP, and Solana, alongside Bitcoin. For example, tron, under Justin Sun, is seeking a U.S. listing via a reverse merger, with plans to acquire $210 million in token assets.
Other companies, like SharpLink Gaming, have announced a $425 million raise led by Ethereum developer ConsenSys Software to purchase Ether. Janover has also rebranded as DeFi Development after raising funds to buy Solana.
Documents shared with Bloomberg describe the Build & Build initiative as a way to bring public market exposure to the Binance ecosystem by holding BNB as the company’s main asset. BNB, originally launched in 2017 via an initial coin offering, is now the fifth-largest cryptocurrency by market value. As of the latest data from CoinGecko, BNB is trading around $623, a 2% increase within 24 hours.
This new approach marks a shift in how public companies engage with digital assets, allowing investors to gain exposure to alternative blockchain ecosystems beyond Bitcoin through regulated financial markets.
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