Biotech firm Windtree Therapeutics announced plans to purchase up to $700 million in BNB following the cryptocurrency hitting a new all-time high. The Nasdaq-listed company is raising approximately $520 million to support these purchases, building on a previous commitment of $200 million. Windtree will collaborate with crypto exchange Kraken for asset custody, utilizing a $500 million equity credit line from an undisclosed institutional investor and a $20 million stock purchase pact from Build and Build Corp. BNB, the fifth largest digital coin with a market cap of $106.9 billion, recently traded around $769. The coin, which launched in 2017 by Binance, serves as the native currency for the BNB Chain. This move marks a trend of firms expanding crypto treasuries to leverage asset value for boosting stock prices, following pathways established by companies like Strategy, which has significantly invested in Bitcoin. Despite a drop in Windtree's stock by about 5% recently, it has risen by 162% over the past month, demonstrating the market's volatility and speculative nature around crypto.

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