Windtree Therapeutics announced plans to buy up to $700 million in BNB, the fifth-largest cryptocurrency, following its recent all-time high. The Nasdaq-listed biotech firm aims to enhance its balance sheet through substantial cryptocurrency investments. Initially, the firm sought to invest $200 million in BNB but has since increased this to $700 million by raising up to $520 million through a $500 million equity line of credit and a $20 million stock purchase agreement. The CEO emphasized that acquiring more BNB is vital to their strategy. BNB, which recently reached a price of $808, has a market cap of $106.9 billion. Windtree joins a growing trend of companies incorporating digital assets into their treasury strategies, following similar moves from other firms, notably the software company Strategy.

Source đź”—