Windtree Therapeutics, a Nasdaq-listed biotech firm based in Pennsylvania, plans to acquire up to $700 million in BNB, the fifth-largest cryptocurrency, to enhance its balance sheet. Following a recent all-time high price for BNB of $808, the company previously announced intentions to buy $200 million in BNB and is raising an additional $520 million through a $500 million equity line of credit with an unnamed institutional investor and a $20 million stock purchase agreement with Build and Build Corp. Windtree has partnered with the cryptocurrency exchange Kraken for custody and management of these assets. The firm views securing funds for BNB purchases as crucial for its strategy, despite its stock recently declining by about 5%. The move reflects a growing trend among public companies in diversifying into crypto, similar to previous strategies by other firms like Strategy and Nano Labs.

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