Windtree Therapeutics, a Nasdaq-listed biotech firm, has announced intentions to purchase up to $700 million in BNB, the fifth-largest cryptocurrency. This decision comes after BNB reached a new all-time high of $808. The company revealed it is raising approximately $520 million specifically for the BNB investment, following an earlier plan to acquire $200 million worth. Windtree will partner with crypto exchange Kraken for asset custody and plans to utilize a $500 million equity line of credit from an unnamed institution and a $20 million stock purchase agreement with Build and Build Corp. CEO Jed Latkin emphasized the importance of securing funds for acquiring additional BNB as part of their corporate strategy. Despite a recent 5% drop in their stock, Windtree has seen a 162% increase over the past month. This acquisition aligns with a growing trend where publicly traded companies, following strategies similar to that of MicroStrategy, are diversifying into various cryptocurrencies rather than focusing solely on Bitcoin.

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