Windtree Therapeutics, a Nasdaq-listed biotech firm, announced its plan to purchase up to $700 million worth of BNB after the cryptocurrency reached an all-time high. The Warrington, Pennsylvania-based company is raising $520 million primarily through a $500 million equity line of credit and a separate stock-purchase agreement worth $20 million to fund these acquisitions. Previously, Windtree had planned to buy $200 million in BNB. The firm has partnered with cryptocurrency exchange Kraken for custody and trading services as part of its BNB Crypto Treasury Strategy. The CEO emphasized the importance of securing additional funds to execute this strategy. BNB, the fifth-largest cryptocurrency by market cap, was recently priced around $769, having hit $808 earlier this week before a slight decline. Other companies are also entering the cryptocurrency market, following similar strategies to improve stock prices by holding digital assets.

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