Former Coral Capital Executives Aim to Raise $100 Million for BNB Treasury Venture

A new venture led by former Coral Capital executives Patrick Horsman, Joshua Kruger, and Jonathan Pasch is aiming to raise $100 million to establish a publicly-traded company that will accumulate BNB tokens as its primary treasury reserve asset. This initiative mirrors the strategy employed by Michael Saylor’s company, Strategy, which has accumulated Bitcoin as a treasury asset, signaling a growing institutional interest in major Layer 1 tokens beyond Bitcoin and Ethereum.

The new company, to be named Build & Build Corporation, will be formed through a Nasdaq-listed shell company. While Binance founder Changpeng Zhao (CZ) has clarified that he has no direct involvement, the development could serve as a catalyst for other corporations to consider BNB as a reserve asset. This move reflects a broader trend of institutional interest in digital assets, with corporations increasingly looking to diversify their reserves with cryptocurrencies.

This push for a corporate BNB treasury coincides with progress on a regulated investment product for the asset. Last month, an asset manager filed for a BNB exchange-traded fund (ETF) in the United States. If approved, the fund would track the price of BNB and, notably, would be the first of its kind in the U.S. to include staking rewards passed on to investors. This feature gives BNB an added layer of financial utility that Bitcoin lacks, potentially enhancing its appeal to institutional investors.

From a technical perspective, the price of BNB currently trades at $639.14, struggling to regain momentum after recently trading above $680. Several key indicators reveal a potential path forward with the RSI hovering near 45.69, below the neutral 50 level, suggesting mild bearish momentum but room for upside reversal if buying volume returns. The MACD line is below the signal line, indicating a bearish crossover that still hasn’t fully reversed. However, the histogram is flattening, hinting at a possible trend shift.

The 0.786 level ($636.24) has acted as short-term support. A further breakdown could see prices head toward the 1.618 Fib extension at $594.97, followed by critical support at $545.37 (2.618) and $495.78 (3.618). On the upside, reclaiming $680+ would invalidate this bearish structure and potentially trigger a rally toward $720–$750. Technical indicators suggest short-term downside risk for BNB, but long-term fundamentals are strengthening rapidly, reflecting the growing institutional interest and potential for increased adoption.