Biotech firm Windtree Therapeutics plans to buy up to $700 million worth of BNB, the fifth-largest cryptocurrency, after it recently hit a new all-time high of $808. The Nasdaq-listed company is raising funds to support this initiative, having already announced a previous plan to invest $200 million. It aims to secure up to $520 million through an equity line of credit and a $20 million stock purchase agreement. Windtree Therapeutics aims to follow a trend among publicly traded companies, including others like Nano Labs, that are increasingly acquiring cryptocurrencies to bolster their balance sheets. Despite a slight dip in stock value, Windtree's stock has surged by 162% in the past month. The company also plans to collaborate with Kraken for the custody of the acquired BNB. CEO Jed Latkin emphasized the importance of obtaining additional funds to facilitate this strategic purchase.

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