Windtree Therapeutics, a Nasdaq-listed biotech firm, announced plans to purchase up to $700 million worth of BNB, following a recent all-time high in the cryptocurrency's price. The company has embarked on a new funding initiative, raising $520 million to facilitate these acquisitions, building on a previous commitment to buy $200 million worth of BNB. Windtree will work with crypto exchange Kraken for asset custody. This decision highlights a growing trend among publicly traded firms investing in cryptocurrencies, not limited to Bitcoin, to enhance their stock valuations. Windtree's stock has fluctuated, showing a 162% increase over the last month despite a recent 5% decline. The firm's CEO emphasized the need for stockholder approval in acquiring additional funds for BNB purchases. BNB, the fifth-largest cryptocurrency, reached a peak price of $808 before a slight downturn, with a current market cap of $106.9 billion. This move follows similar strategies by other firms in the crypto space to bolster their treasury with digital assets.

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