BNB Corporate Treasury to Be Created by a New Firm Raising $100 Million

• Former Coral Capital executives aim to raise $100M via a Nasdaq shell company to accumulate BNB as a treasury asset.
• VanEck recently filed for the first-ever BNB ETF in the US, including staking rewards.
• Technical indicators suggest short-term downside risk for BNB, but long-term fundamentals are strengthening rapidly.

A new venture led by three former Coral Capital executives, Patrick Horsman, Joshua Kruger, and Jonathan Pasch, is raising $100 million to create a publicly-traded company that will accumulate BNB tokens as its primary treasury reserve asset. 

The move mirrors the well-known Bitcoin strategy of Michael Saylor’s company, Strategy, and signals 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) clarified on X that he has no direct involvement, the development could serve as a catalyst for other corporations to consider BNB as a reserve asset.

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