Former Crypto Executives Plan $100 Million BNB Accumulation Via Nasdaq Firm

A group of former executives from crypto hedge funds is planning to raise $100 million through a Nasdaq-listed company to accumulate BNB, the native token of Binance. The initiative, led by Patrick Horsman, Joshua Kruger, and Johnathan Pasch, aims to create a public firm called Build & Build Corporation, with BNB as its primary treasury asset. This strategy is inspired by Michael Saylor's approach with MicroStrategy, where the company began acquiring Bitcoin as a hedge against inflation in 2020, building a BTC reserve valued at around $60 billion.

The plan seeks to close the fundraising round before the end of the month. The move comes as institutional interest in other cryptocurrencies has grown, with firms like SharpLink Gaming, Upexi Inc., and DeFi Development Corp. raising funds for Ethereum and Solana purchases. Build & Build Corporation aims to be the first publicly traded company to accumulate BNB as a treasury asset, offering direct exposure to the Binance ecosystem from traditional markets.

BNB, launched in 2017 through an ICO, currently holds a market capitalization of $88 billion. It offers trading fee discounts within Binance and is used to pay fees on BNB Smart Chain, a blockchain widely adopted for games and decentralized applications. The token is trading at $627 per unit, reflecting its significant usage and value within the Binance ecosystem.

The regulatory landscape has shifted favorably toward crypto, with the SEC closing its case against Binance in May. This more flexible posture benefits moves like Build & Build’s initiative. Changpeng Zhao, the founder of Binance, responded to the news with cautious optimism, clarifying that Binance itself is not directly involved in the transaction but expressing strong support for the initiative. CZ highlighted that BNB is a public blockchain native coin, distinct from Binance Holdings Ltd or its centralized exchange, reinforcing BNB’s decentralized nature and broader utility.

CZ’s endorsement suggests that BNB could gain increased recognition as a strategic corporate asset, potentially driving further mainstream acceptance and integration of cryptocurrencies within traditional financial frameworks. The planned $100 million BNB acquisition by former hedge fund executives through a Nasdaq-listed company marks a significant evolution in institutional cryptocurrency adoption, reflecting broader market dynamics where regulated entities are embracing digital assets.