Former Crypto Executives Plan $100 Million BNB Acquisition

A group of former crypto hedge fund executives, including Patrick Horsman, Joshua Kruger, and Johnathan Pasch, are planning to raise $100 million to acquire BNB tokens. This move is significant as it marks a notable shift in institutional crypto investment. The acquisition will be executed through a Nasdaq-listed company, which plans to rebrand as Build & Build Corporation, positioning BNB as its primary asset. This initiative introduces a novel approach to institutional crypto investment by consolidating BNB within a regulated corporate structure, potentially enhancing transparency and investor confidence.

Changpeng Zhao, widely known as CZ, the founder of Binance, responded to the news with cautious optimism. He clarified that Binance itself is not directly involved in the transaction but expressed strong support for the initiative. CZ highlighted that BNB is a public blockchain native coin, distinct from Binance Holdings Ltd or its centralized exchange, Binance CEX. This distinction is critical as it reinforces BNB’s decentralized nature and its broader utility beyond the Binance platform. CZ’s comparison of this development to Michael Saylor’s MicroStrategy strategy—where a public company accumulates Bitcoin as a treasury asset—suggests that BNB could be the next major cryptocurrency to attract institutional treasury interest. This analogy positions BNB as a viable store of value and a strategic asset for corporate portfolios, potentially accelerating its adoption among institutional investors.

The Build & Build Corporation’s planned acquisition of BNB aligns with a growing trend of companies integrating cryptocurrencies into their balance sheets. This move is particularly noteworthy as it marks the first time a publicly traded company will hold BNB as a core asset, potentially setting a precedent for other firms to follow. Other cryptocurrencies such as Ethereum and Solana have also attracted institutional interest. For example, SharpLink Gaming recently raised $463 million to purchase Ethereum, while firms like Upexi and Janover are building reserves in Solana. This diversification reflects a maturing market where multiple blockchain ecosystems are recognized for their unique value propositions.

BNB was launched in 2017 through an initial coin offering (ICO) by Binance, which remains the world’s largest crypto exchange by trading volume. The ICO allocated 80 million tokens to the founding team, including CZ, with proceeds used to develop the Binance platform. Despite regulatory challenges, including Binance and CZ’s 2023 guilty pleas related to money laundering and U.S. sanctions violations, the project has maintained resilience. Binance agreed to pay $4.3 billion in fines, and CZ stepped down as CEO after a $50 million payment. Since then, regulatory sentiment in the U.S. has shifted, with increased support for crypto innovation, partly influenced by Donald Trump’s advocacy. Notably, the SEC dropped its lawsuit against Binance in May 2025, signaling a potential easing of regulatory pressures and fostering a more favorable environment for institutional crypto activities.

The planned $100 million BNB acquisition by former hedge fund executives through a Nasdaq-listed company highlights a significant evolution in institutional cryptocurrency adoption. With Binance founder CZ’s endorsement and the precedent set by firms like MicroStrategy, BNB is positioned to gain increased recognition as a strategic corporate asset. This development reflects broader market dynamics where regulated entities are embracing digital assets, potentially driving further mainstream acceptance and integration of cryptocurrencies within traditional financial frameworks.