Biotech firm Windtree Therapeutics has announced plans to purchase up to $700 million worth of BNB, the fifth-largest cryptocurrency, following its recent all-time high. To finance this acquisition, the company is seeking to raise $520 million from institutional investors, in addition to an earlier commitment of $200 million. Windtree plans to partner with crypto exchange Kraken for asset custody. The company announced its ambitious strategy as part of its efforts to build a cryptocurrency treasury, similar to strategies employed by other publicly traded companies like Strategy. Despite its stock price experiencing a 5% decline, it has increased by 162% over the past month. BNB recently reached a high of $808 before experiencing a price adjustment. Windtree's initiative reflects a growing trend among companies to invest in digital assets to enhance their financial positions and attract investors.

Source 🔗