Windtree Therapeutics, a Nasdaq-listed biotech firm, plans to purchase up to $700 million worth of BNB cryptocurrency after it reached a new all-time high. The company aims to bolster its balance sheet by raising $520 million for BNB acquisitions, following a prior commitment of $200 million. Windtree will collaborate with crypto exchange Kraken for asset custody and is using a $500 million equity line of credit and a $20 million stock-purchase agreement to fund this initiative. BNB, currently the fifth-largest cryptocurrency with a market cap of approximately $106.9 billion, reached an all-time high price of $808 before experiencing a decline. This move by Windtree reflects a growing trend of publicly traded companies diversifying into cryptocurrency assets beyond Bitcoin to enhance their stock value. Meanwhile, Windtree’s stock experienced a decline of about 5% despite a significant 162% increase over the past month, mirroring a wider interest among firms in establishing crypto treasuries.

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