Nasdaq-listed Company Buys Millions in BNB
Nasdaq-listed Windtree Therapeutics (WINT) announced plans Thursday to purchase up to $700 million worth of BNB cryptocurrency.
- The move, following BNB’s recent all-time high ($808 per coin), aims to fund crypto treasury expansion.
- Windtree will raise up to $720 million, combining a $500 million line of credit and a $20 million stock sale, to secure the BNB purchases.
- CEO Jed Latkin stated the acquisition is “essential” to the company’s strategy.
The Philadelphia-based biotech firm will partner with Kraken custody services and lists BNB as the fifth-largest cryptocurrency by market cap ($106.9 billion).
Trend Followed: This action continues a strategy adopted by several prominent publicly traded firms buying cryptocurrencies, following Strategy (formerly MicroStrategy) being the pioneer for Bitcoin.
Other companies participating in or announcing similar diversification measures include:
- Nano Labs: Aiming for $1 billion BNB purchase
- Semler Scientific
- Metaplanet
Assets purchased extend beyond Bitcoin to include Solana, Ethereum, and XRP.
Windtree’s stock experienced a mixed reaction, down ~5% briefly on the announcement but showing strong performance (+162%) over the prior month.
About BNB
Created by Binance (world’s largest crypto exchange), BNB was initially Ethereum-based and serves as the native utility coin of the BNB Chain (formerly Binance Smart Chain).
