$100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move

Key Takeaways:

• A team of former Coral Capital executives is raising $100 million to purchase BNB through a public company.
• The firm will be renamed Build & Build Corporation and hold BNB as a treasury asset.
• Binance continues to lead altcoin and stablecoin deposit activity on Ethereum and TRON.

A team of hedge fund executives is seeking to raise $100 million to purchase BNB, the native token of Binance, through a publicly traded company, according to a June 23 report.

The plan involves renaming the Nasdaq-listed company to Build & Build Corporation, and using it to acquire BNB as a treasury asset.

Crypto hedge fund executives are reportedly aiming to raise $100M to accumulate $BNB https://t.co/BzPqAZm4oM

Investor materials reviewed by Bloomberg show the effort is being led by former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger, and Johnathan Pasch.

The BNB purchase would follow a model previously used by Strategy (formerly known as MicroStrategy), which began accumulating Bitcoin through its corporate balance sheet in 2020. Strategy also announced today that it will acquire $26 million in Bitcoin.

Following Strategy’s business model, other listed companies have adopted similar strategies involving different tokens. SharpLink Gaming raised $425 million in May to purchase Ethereum, while DeFi Development Corp. disclosed plans to acquire Solana.

BNB was created by Binance in 2017 during its initial coin offering. The token is used to reduce trading fees on the exchange and facilitate payments on BNB Smart Chain, which hosts various decentralized applications.

It currently ranks as the fifth-largest cryptocurrency by market cap with a total value of $87 billion, according to CoinMarketCap.

The investor materials describe Build & Build as the first listed company to hold BNB on its balance sheet. The fundraising is expected to close before the end of June.

Recent on-chain data from CryptoQuant demonstrates Binance’s continued dominance in altcoin deposit activity, far outpacing rival exchanges.

During the height of the late 2024 altcoin rally, Binance saw up to 59,000 daily deposits, more than double that of Coinbase and ahead of all other exchanges combined.

Even in quieter markets, Binance leads with an average of 13,000 daily altcoin inflow transactions.

Binance also tops stablecoin inflows on Ethereum, particularly in USDT and USDC transfers. CryptoQuant data shows the exchange received 53,000 Ethereum-based stablecoin transactions over a recent period, compared to 42,000 for Coinbase.

Some public companies are beginning to treat exchange-linked tokens not just as speculative assets, but as a structural part of their treasury strategy. The choice to accumulate BNB reflects growing interest in assets that offer direct utility within large trading ecosystems.

This shift also introduces new variables for public markets. Investors will need to weigh the benefits of token-linked services against the volatility and regulatory scrutiny surrounding exchange-based assets.

Public companies holding volatile crypto assets must account for impairment losses but not unrealized gains, which may result in uneven quarterly reports depending on market conditions.

BNB’s close association with Binance, which has faced legal scrutiny, could raise compliance concerns, particularly if the SEC or other agencies classify the token as a security in future actions.

While some platforms have native tokens, few have achieved the same scale of utility and liquidity as BNB. Replication may depend on ecosystem size and regulatory tolerance.

If successful, this approach could provide a regulated pathway for institutional investors to gain BNB exposure without directly interacting with crypto exchanges.

Large holders could become key stakeholders in token ecosystems, potentially influencing governance decisions if those tokens grant voting rights or protocol influence.

The post $100 Million BNB Bet: Nasdaq Company Mirrors MicroStrategy’s Playbook in Bold Treasury Move appeared first on Cryptonews.