A public company to accumulate $100 million in BNB
A team of leaders who used to work in crypto hedge funds wants to raise $100 million. Their goal is to create the first public company that will keep BNB, the fifth-largest crypto, on its balance sheet.
This project, shared by Bloomberg, is led by Patrick Horsman, Joshua Kruger, and Johnathan Pasch. They used to work at Coral Capital Holdings. They want to finish the fundraising this month with Build & Build Corporation, a public company they manage.
After the fundraising is done, the team plans to change the company’s brand and begin buying BNB tokens. They have not said anything about the fundraising efforts.
More and more public companies are starting to use crypto like Bitcoin. This trend has grown, especially after Donald Trump won the 2024 election. The US government is being supportive of cryptocurrencies and is working to make the rules clearer, which has helped this trend grow.
Many companies have started to focus on Bitcoin and are using strategies like those of Strategy, which has gained a lot in stock value since it began. More companies are starting to invest in other big crypto like Ethereum, XRP, and Solana, not just Bitcoin.
Tron, led by Justin Sun, wants to enter the US market by merging with another company. They plan to acquire up to $210 million in token assets, which includes TRX tokens.
SharpLink Gaming has announced it raised $425 million to buy Ether. Janover, now called DeFi Development, has also raised money to buy Solana. The Build & Build venture will be important because it will be the first public company to use BNB as its main asset.
This will give people a way to invest in the Binance ecosystem through the stock market. BNB was made by Binance in 2017. It was trading at about $623 when the report came out, showing a 2% rise in the last 24 hours.
