Windtree Therapeutics, a Nasdaq-listed biotech firm, announced plans to purchase up to $700 million worth of BNB following its recent all-time high. The company is raising $520 million to fund this initiative, having previously planned to acquire $200 million in the cryptocurrency. They will partner with Kraken for custody and trading services. Windtree aims to secure additional funding for more BNB purchases essential for their strategy, as stated by CEO Jed Latkin. BNB, currently the fifth largest cryptocurrency by market cap at $106.9 billion, hit a peak of $808 this week but has since dipped. Windtree's stock has seen a significant rise of 162% over the past month despite a recent 5% drop. This move aligns with a trend of publicly traded companies diversifying into cryptocurrencies, exemplified by others like Nano Labs planning substantial BNB acquisitions.

Source đź”—