In a significant development for the cryptocurrency industry, a publicly traded company is reportedly preparing to establish a $100 million $BNB Treasury, modeled after Bitcoin-centric strategies employed by firms like MicroStrategy. According to a June 23 report from Bloomberg, the initiative would mark the first time a #NASDAQ -listed corporation holds BNB as its primary treasury asset.


Key Players and Strategy


Former Coral Capital Holdings executives—Patrick Horsman, Joshua Kruger, and Jonathan Pasch—are leading the initiative. The trio is in advanced stages of raising $100 million to acquire BNB tokens, with plans to complete funding by the end of June.


Once capital is secured, the executives intend to rebrand their NASDAQ-listed entity as Build & Build Corporation. The firm will then begin accumulating BNB tokens as a strategic long-term treasury reserve.


This approach draws parallels to Plan₿ (formerly MicroStrategy), which began acquiring Bitcoin in August 2020, maintaining its accumulation strategy through various market cycles.


Market Impact and #BNB Price Movement


Following the announcement, BNB saw a notable price increase on June 23, underscoring the market's positive response to institutional interest in the token.


Clarification on BNB’s Position


BNB, originally launched through an ICO in 2017 by Binance, was developed as a native token for the Binance ecosystem. Bloomberg initially described BNB as a token “linked to Binance Holdings Ltd.” However, former Binance CEO Changpeng “CZ” Zhao clarified on social media platform X that BNB is the native currency of a public blockchain and not directly tied to the Binance exchange.


CZ expressed support for the initiative, noting that while he is not involved in the project, he welcomes the growing interest from institutional players in adopting BNB as a strategic asset.


A Landmark Move for Crypto Adoption


If finalized, this move will represent a milestone in the broader adoption of cryptocurrency assets by traditional financial institutions, with BNB taking a leading role alongside Bitcoin and Ethereum in corporate treasury strategies.

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