Former Hedge Fund Executives Plan to Raise $100 Million to Launch BNB Financial Strategy Firm

Three former Coral Capital Holdings executives, Patrick Horsman, Joshua Kruger, and Johnathan Pasch, are advancing a plan to raise $100 million, aiming to acquire and hold BNB tokens through a Nasdaq-listed company under their control. According to sources, the company will be renamed Build & Build Corporation after the fundraising is completed and will officially begin establishing a corporate treasury centered on 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" strategy, following Michael Saylor's company, Strategy, which adopted Bitcoin as its corporate treasury asset. In recent years, several institutions—including Tether, SoftBank Group, and Donald Trump's social media company—have followed suit with crypto asset holding plans, with some shifting to mainstream tokens other than Bitcoin, such as Ethereum and Solana. (Bloomberg)