Windtree Therapeutics, a Nasdaq-listed biotech firm, plans to acquire up to $700 million in BNB, the fifth-largest cryptocurrency, to enhance its balance sheet. This decision follows the coin's recent all-time high of $808. To fund this initiative, the company is raising $520 million, building upon a previous commitment to purchase $200 million in BNB. Windtree will partner with Kraken for asset custody and will utilize a $500 million equity line of credit from an unnamed institutional investor, as well as a $20 million stock purchase agreement with Build and Build Corp. CEO Jed Latkin emphasized that securing funding for more BNB purchases is crucial to their strategy. BNB, originally launched by Binance in 2017, plays a significant role in the crypto landscape, especially among publicly traded companies now starting to build crypto treasuries. Windtree’s stock has experienced a notable rise of 162% over the past month despite a current dip of 5%. This trend reflects a broader movement among firms like Nano Labs and Strategy to leverage cryptocurrency assets to potentially enhance their market positions.

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