Windtree Therapeutics plans to acquire up to $700 million worth of BNB, a major cryptocurrency, after it recently reached an all-time high of $808. The Nasdaq-listed biotech firm, based in Pennsylvania, is raising $520 million to support these purchases following an earlier announcement for $200 million. Windtree has partnered with crypto exchange Kraken to manage the custody of its BNB holdings. The funds will be sourced through a $500 million equity line of credit from an institutional investor and a $20 million stock-purchase agreement with Build and Build Corp. CEO Jed Latkin emphasized the importance of gaining stockholder approval to secure additional funding for BNB acquisitions. Windtree is among several companies amassing crypto treasuries, aiming to enhance their market positions; the company's stock has seen a significant rise of 162% over the past month despite a 5% dip recently. Other firms, such as Nano Labs, have similarly announced large-scale BNB purchases, reflecting a growing trend in the public sector adopting cryptocurrency for balance sheet strategies.

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