Multiple former hedge fund executives plan to raise $100 million to create a publicly listed company focused on BNB financial strategies

ChainCatcher news, according to Bloomberg, three former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger, and Johnathan Pasch are advancing a plan to raise $100 million to acquire and hold BNB tokens through a Nasdaq-listed company they control.

Sources reveal that the company will be renamed Build & Build Corporation after the fundraising is completed and will officially begin establishing a company treasury centered around BNB. If successful, it will become the first publicly listed company to use BNB as its core reserve asset.

This move is seen as an evolution of the "crypto treasury" operations following Michael Saylor's Strategy adopting Bitcoin as a company treasury. In recent years, several institutions, including Tether, SoftBank Group, and the social media company under Trump, have followed suit with crypto asset holding plans, with some companies shifting towards non-Bitcoin mainstream tokens like Ethereum and Solana.