Hedge Fund Veterans Plot $100M BNB Treasury Investment via Public Company
A group of seasoned hedge fund professionals is aiming to raise $100 million to purchase Binance’s BNB token through a publicly traded shell company on the Nasdaq, signaling a bold new step for corporate crypto holdings.
Patrick Horsman, Joshua Kruger, and Johnathan Pasch—all former partners at Coral Capital Holdings—plan to transform an undisclosed public firm into Build & Build Corporation, Bloomberg reports. The new entity would hold BNB as its main treasury asset, effectively turning it into the first publicly listed company to adopt BNB as a reserve currency.
If the plan succeeds, it would offer stock market investors indirect exposure to BNB, mirroring the approach some public firms have taken with bitcoin.
Corporate adoption of digital assets has accelerated, with more businesses allocating part of their treasuries to cryptocurrencies. According to BitcoinTreasuries, publicly traded companies collectively hold around 834,779 BTC, valued at over $83.8 billion.
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