Windtree Therapeutics, a Nasdaq-listed biotechnology firm, announced plans to purchase up to $700 million in BNB, the fifth-largest cryptocurrency, after it recently hit an all-time high price. The company intends to raise $520 million to facilitate these acquisitions, following a previous commitment to buy $200 million in BNB. Windtree will collaborate with Kraken, a crypto exchange, for asset custody. This funding will come from a $500 million equity line of credit with an unnamed institutional investor and a $20 million stock purchase agreement with Build and Build Corp. CEO Jed Latkin emphasized the importance of securing these funds for their strategy. BNB, which launched in 2017 on the Binance crypto marketplace, has seen a significant price increase, prompting increased interest from publicly traded companies in building cryptocurrency treasuries. Despite a recent dip in its stock, Windtree's share price has increased by 162% in the past month, following the trend in companies like Nano Labs, which announced a $1 billion BNB buy. Other firms are also diversifying into cryptocurrencies beyond Bitcoin to enhance their stock value.

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