BNB Enters Corporate Treasuries
A team of crypto hedge fund veterans is aiming to raise $100 million to establish the first publicly traded company holding BNB (Binance Coin) as a core treasury asset. This strategy, reported by Bloomberg, mirrors the successful Bitcoin treasury approach popularized by MicroStrategy, but expands the concept to include other leading cryptocurrencies.
Key Takeaways
- Build & Build Corporation will be the first listed company to hold BNB as a primary treasury asset.
- This initiative follows the successful Bitcoin treasury strategies adopted by other public companies.
- The move signals a broader trend of multichain treasury strategies in the corporate world.
Patrick Horsman, Joshua Kruger, and Johnathan Pasch, former Coral Capital Holdings executives, are leading the fundraising effort. They plan to complete the $100 million raise this month through Build & Build Corporation, a publicly listed shell company under their control. Post-funding, the company will undergo a rebranding and immediately begin accumulating BNB tokens.
Michael Saylor’s Playbook Goes Multichain
Since Trump's 2024 election victory, publicly traded companies have increasingly adopted crypto, primarily Bitcoin, as strategic assets. This trend is fueled by the US administration's positive stance on crypto regulation and initiatives to integrate Bitcoin into the national reserve system. Companies like Twenty One (backed by Tether and Nakamoto Holdings) have emerged, focusing on Bitcoin accumulation.
However, the trend is evolving beyond Bitcoin. Several companies are now adopting a "multichain" approach, diversifying their treasury holdings into other major crypto assets. Examples include:
- Tron (TRX): Planning a US public listing via a reverse merger with SRM Entertainment, aiming to accumulate up to $210 million in TRX.
- SharpLink Gaming: Secured $425 million in funding led by Consensys Software to acquire Ether (ETH).
- Janover (now DeFi Development): Raised capital to invest in Solana (SOL).
Build & Build’s venture is significant as it would be the first publicly listed company to prioritize BNB as its core treasury asset, offering public market exposure to the Binance ecosystem. BNB, launched by Binance in 2017, was trading at approximately $623 at the time of this report.
Codeum's Role in Blockchain Security: At Codeum, we understand the importance of secure blockchain development and treasury management. Our services, including smart contract audits, KYC verification, and custom smart contract development, help companies navigate the complexities and risks of the crypto space safely and efficiently. We are also actively involved in partnerships with launchpads and crypto agencies. Contact us to learn more about how we can assist with your blockchain initiatives.