according to the website - By Cointelegraph

Shares of Windtree Therapeutics, a biotechnology company that developed a delisting strategy for BNB last month, fell by 77% on Wednesday after Nasdaq informed the company of its intention to delist it for non-compliance with requirements.

The violation concerned Nasdaq Listing Rule 5550(a)(2), which requires maintaining a minimum bid price of the company's shares at $1 per share, Windtree stated in a statement filed Tuesday with the U.S. Securities and Exchange Commission. Nasdaq will suspend trading of WINT on Thursday.

According to Google Finance, Windtree shares (WINT) fell by 77.2% to $0.11 after the news was published and then by another 4.7% after the market closed. WINT shares rose slightly on July 16 when the company announced its investment strategy in BNB but have fallen by more than 90% since the peak on July 18.

Some companies have risen after adopting an investment strategy in cryptocurrency, while others have fared worse. Windtree is part of a growing number of public companies that have adopted an investment strategy in BNB, providing investors with access to BNB without directly owning the cryptocurrency.

Windtree will continue to disclose financial information
The company's CEO Jed Latkin stated in a statement that Windtree will continue to meet its reporting obligations despite the delisting.

Some cryptocurrency companies, such as Argo Blockchain, were suspended on Nasdaq but were relisted after meeting the requirements. Windtree made several loud statements and then went silent.
On July 16, Windtree launched its BNB treasury portfolio, announcing a $60 million purchase agreement with Build and Build Corp. with options for an additional $140 million.

In the following two days, WINT shares rose by 32.2%, after which they began to decline.

About a week later, the company signed a $500 million credit line with an unnamed investor, as well as a separate stock purchase agreement for $20 million with Build and Build Corp to acquire additional BNB tokens.
Windtree does not disclose how much BNB it has and whether it intends to continue its strategy of managing BNB treasury portfolios. Cointelegraph reached out to Windtree for comments.

BNB demonstrated one of the best performances among 'blue chip' altcoins on Wednesday, rising by 5.6% to $876.26 and setting a new all-time high against the backdrop of a cryptocurrency market rebound from a two-week low, according to CoinGecko data.

BNB is one of the few major altcoins that has updated its peak in this bull cycle, alongside XRP (XRP) and Solana (SOL), while cryptocurrencies like Ethereum (ETH), Dogecoin (DOGE), Chainlink (LINK), and Cardano (ADA) are still trying to reach the highs set in 2021.


$BTC, $XRP, $SUI

#MarketRebound, #Cryptomarketnews



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