Windtree Therapeutics, a Nasdaq-listed company, has made a groundbreaking move by signing a $60 million deal to support a crypto treasury strategy centered around BNB, the native token of Binance Smart Chain. This marks the first direct BNB holding by a company listed on the Nasdaq.
The agreement, led by Build and Build Corp, includes an option for an additional $140 million in future subscriptions, pending shareholder approval and other closing conditions. If finalized, Windtree would become the first Nasdaq-listed firm with direct BNB holdings.
“This transaction secures up to $200 million from institutional investors, offering our shareholders a unique opportunity to gain exposure to a BNB-focused crypto treasury strategy,” said Windtree CEO Jed Latkin. The proceeds from the deal will be used to acquire BNB tokens, shares of Osprey BNB Chain Trust, and cash to implement their digital asset plan, including custody, security protocols, and potential yield activities.
Patrick Horsman, director of Build and Build Corp, described the deal as “a BNB strategy for the U.S. market,” providing investors access to Binance and BNB through a regulated structure. BNB is currently the fifth-largest token by market cap, with a daily trading volume exceeding $2 billion and is utilized across Binance’s exchange and Binance Smart Chain applications.
Windtree’s investment is poised to take advantage of the growing institutional interest in BNB-linked infrastructure, particularly in the U.S. where regulated channels for exposure to BNB are limited. The agreement is subject to standard legal and regulatory review and is not an offer to sell securities.
With Bitcoin and Ethereum dominating corporate adoption, Windtree’s move to focus on BNB may pave the way for other public companies to pursue token-specific treasury strategies involving altcoins beyond the traditional giants. This shift could indicate a broader trend of companies viewing token holdings as part of a broader engagement with blockchain infrastructure.
In conclusion, Windtree’s $60 million crypto treasury strategy focused on the BNB ecosystem represents a significant milestone in the adoption of alternative cryptocurrencies by publicly listed companies. This move could open the door for other firms to explore similar strategies and further integrate digital assets into their financial portfolios.