💥 $100M BNB Bet? Former Coral Capital Execs Plan Big Move — CZ Responds!
In a major development that's drawing attention from across the crypto world, former Coral Capital executives are reportedly in advanced talks to raise $100 million — aimed at investing in BNB, the native token of the BNB Chain ecosystem.
According to Bloomberg, the funds would be deployed through a publicly traded company they already control, which will soon be rebranded as Build & Build Corporation — a clear nod to Binance’s “Build” ethos.
🚨 But Wait… Is This Binance-Backed?
The plot thickens.
CZ (Changpeng Zhao), the founder and former CEO of Binance, was quick to respond:
"I've heard of several companies doing this. None of them are run by me/us yet. But we give them a lot of support. BNB is a public native coin on the blockchain, not 'tied' to Binance Holdings Ltd or CEX Binance."
His statement emphasizes that BNB is not a security, nor is it owned or controlled by Binance Holdings Ltd — even if third parties choose to invest in it via public markets.
Why This Matters:
BNB could enter institutional exposure via public equity — a model similar to how companies give indirect BTC/ETH exposure.
It signals growing confidence in BNB’s long-term value beyond just exchange utility.
Raises important questions about decentralization vs perception of ownership when tokens are linked to major platforms.
Coral Capital ex-execs → raising $100M to invest in BNB
Vehicle: Publicly traded company → soon to be Build & Build Corporation
CZ: Not run by Binance, but BNB remains an open, public blockchain coin