Hedge Fund Execs To Raise $100 Million For Binance Coin (BNB) Treasury

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Coingape
06-23

Hedge Fund executives are reportedly looking to adopt Michael Saylor’s strategy to create a Binance Coin (BNB) treasury. These executives plan to raise up to $100 million to accumulate the token and form the BNB treasury.

Hedge Fund Execs Reveal Plans To Create BNB Treasury

According to a Bloomberg report, a team of crypto hedge fund executives is in advanced talks to raise $100 million to invest in the Binance Coin (BNB). They plan to create this Binance coin treasury through a publicly listed company that they control.

The Bloomberg report stated that former Coral Capital Holdings Patrick Horsman, Joshua Kruger, and Jonathan Pascah are behind the pitch, according to an investor document that the platform reviewed. These crypto executives aim to complete the fundraising this month.

Once the fundraising is complete, they plan to rename the unidentified Nasdaq-listed company ‘Build & Build Corporation’ and establish the BNB treasury. Binance’s former CEO Changpeng “CZ” Zhao also commented on this development.

In an X post, CZ stated that a BNB treasury is also coming to a few other markets around the world. He revealed that he has heard about a few different companies doing this. However, the crypto founder added that they are not involved in any of these companies, although they are extremely supportive of the move. He added that BNB is a public blockchain native token, which has no ties to Binance Holdings or the top crypto exchange.

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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
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