Key Takeaways:
A group of former executives from Coral Capital is in the process of raising $100 million to acquire BNB, the Binance native token, via a publicly listed company. The entity will be rebranded as Build & Build Corporation and will designate BNB as a treasury asset.
Additionally, Binance maintains a dominant position in altcoin and stablecoin deposit activities across Ethereum and TRON.
A hedge fund team is reportedly working to secure $100 million with the aim of purchasing BNB, Binance’s original cryptocurrency, through a public company, according to a report released on June 23.
The strategy involves rebranding the publicly traded company on Nasdaq to Build & Build Corporation, which will subsequently acquire BNB as a core asset.
Crypto hedge fund executives are reportedly aiming to raise $100M to accumulate $BNB https://t.co/BzPqAZm4oM
— BNB Chain (@BNBCHAIN) June 23, 2025
Build & Build to Hold $100 Million in BNB
Documents obtained by Bloomberg indicate that the initiative is spearheaded by former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger, and Johnathan Pasch.
This BNB acquisition reflects a strategy similar to that employed by Strategy (previously known as MicroStrategy), which began adding Bitcoin to its corporate balance sheet in 2020. Notably, Strategy also announced recently that it will be purchasing $26 million in Bitcoin.
Following this approach, various publicly listed companies have adopted comparable strategies centered around different cryptocurrencies. For instance, SharpLink Gaming raised $425 million in May for the purpose of acquiring Ethereum, while DeFi Development Corp. shared its intentions to purchase Solana.
Launched in 2017 during an initial coin offering by Binance, BNB serves to reduce trading costs on the exchange and facilitate transactions on the BNB Smart Chain, which supports diverse decentralized applications.
Currently, BNB ranks as the fifth-largest cryptocurrency by market capitalization, boasting a total value of approximately $87 billion, as reported by CoinMarketCap.
According to investor information, Build & Build is set to become the first publicly listed company to include BNB in its financial statements, with the fundraising endeavor expected to conclude before the end of June.
Binance Activity Fuels Interest in Exchange Tokens
Recent on-chain analysis from CryptoQuant highlights Binance’s sustained dominance in altcoin deposit activities, significantly surpassing that of its competitors.
During the peak of the late 2024 altcoin surge, Binance recorded as many as 59,000 daily deposits, more than double the amount seen on Coinbase and ahead of all other exchanges combined.
Even during quieter trading periods, Binance maintains its lead, averaging 13,000 daily transactions for altcoin inflows.
Binance also excels in stablecoin transactions on Ethereum, particularly with USDT and USDC, receiving 53,000 Ethereum-based stablecoin transfers compared to 42,000 for Coinbase, according to CryptoQuant’s data.
A growing number of public companies are starting to view exchange-linked tokens not merely as speculative investments, but as integral to their treasury management strategies. The decision to accumulate BNB signifies increasing interest in assets that deliver direct utility within expansive trading ecosystems.
This transition introduces additional considerations for public marketplaces. Investors will need to assess the benefits of token-linked services alongside the potential volatility and regulatory scrutiny associated with exchange-based assets.
Frequently Asked Questions (FAQs)
How could BNB holdings affect Build & Build Corporation’s future financial reporting?
Companies publicly traded that hold volatile crypto assets have to account for impairment losses without recognizing unrealized gains, which may lead to inconsistent quarterly financial reports based on market fluctuations.
What regulatory concerns might arise from holding BNB as a core asset?
Given BNB’s close ties to Binance—an entity that has attracted legal scrutiny—issues of compliance could emerge, particularly if regulatory bodies like the SEC classify the token as a security in upcoming assessments.
Could other exchanges replicate Binance’s BNB model?
While numerous platforms possess native tokens, few have achieved the same level of utility and liquidity as BNB. The ability to replicate this model may hinge on the size of the ecosystem and regulatory acceptance.
What are the implications for institutional exposure to BNB through public markets?
Should this strategy prove successful, it could offer a regulated avenue for institutional investors to gain exposure to BNB without the necessity of direct interaction with cryptocurrency exchanges.
How might token accumulation by firms influence governance or network dynamics?
Major stakeholders in token ecosystems could steer governance decisions if the tokens they hold confer voting rights or influence on the protocol.
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