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Windtree Becomes First Nasdaq Firm to Offer ‘BNB Exposure’
Windtree Therapeutics has announced a security purchase agreement to raise an initial $60 million to fund a crypto reserve. According to the announcement, the deal will be led by Build and Build Corp to position the firm as a major stakeholder in the BNB ecosystem. Additionally, the agreement could potentially result in a $200 million inflow.
At current prices, the company is looking at a stockpile of 285,714 BNB tokens, opening up inroads for both institutional and retail demand in the asset. Key on its roadmap is custody, security, and yield generation. Over the last 12 months, altcoins such as BNB and Ether have gained significant traction, making them attractive to most investors. As a result, the company stands to benefit from both the asset and the yield in the coming months.
“Subject to shareholder approval and the satisfaction of other closing conditions, Windtree will become the first NASDAQ-listed company offering direct exposure to the BNB token, the fifth-largest blockchain by market capitalization (over $95 billion). This strategy addresses a critical need for retail and institutional investors seeking regulated access to the Binance ecosystem,” the report added.
Jed Latkin, the CEO of Windtree, wrote that the deal marks a milestone development for the firm in its quest to secure institutional backing. Furthermore, Build & Build Corp added that plans would address the critical gap in the United States market.
 
The recent surge in crypto institutional demand follows Michael Saylor’s Strategy playbook. Currently, the number of publicly listed firms holding Bitcoin and other cryptocurrencies is at an all-time high. Last week, the firm scooped 4,225 BTC worth approximately $472.5 million, taking its holdings above the 600,000 mark.
Similarly, firms like SharpLink Gaming have doubled down on altcoin reserves over the last quarter. Nano Labs disclosed plans to offload convertible notes to purchase $1 billion worth of BNB tokens. The altcoin attracts investors based on its utility on the Binance exchange. The platform dominated centralized crypto trading volumes and has gradually gained more institutional market share this year.
Source: https://zycrypto.com/windtree-therapeutics-mulls-massive-bnb-reserve-amid-institutional-crypto-treasury-strategy/