Windtree Therapeutics, a Nasdaq-listed biotech company, has announced plans to purchase up to $700 million worth of BNB, the fifth-largest cryptocurrency. This decision comes after BNB recently reached a new all-time high price. To finance this acquisition, Windtree intends to raise $520 million, which includes a $500 million equity line of credit and a separate $20 million stock-purchase agreement. The companyplans to partner with crypto exchange Kraken for custody of BNB assets. Windtree’s CEO, Jed Latkin, emphasized the importance of securing funds for the BNB purchases as part of their strategic plan. Despite a recent dip in its stock value, Windtree's stock has increased significantly over the past month, reflecting a broader trend where companies are increasingly building crypto treasuries. Notably, Windtree follows other firms, such as Nano Labs and Strategy, that have made substantial investments in cryptocurrencies to enhance their market presence and boost stock valuations. The firm aims to capitalize on the growing interest in cryptocurrency among institutional players.

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