Experienced Hedge Fund Leaders Plan $100 Million Stake in BNB Reserves

Hedge Fund Veterans Aim for $100M BNB Treasury Bet Through Nasdaq Vehicle

A team of veteran hedge fund managers is looking to raise $100 million to invest in Binance’s BNB token via a publicly listed shell company on the Nasdaq, signaling a new wave of corporate crypto adoption.

Patrick Horsman, Joshua Kruger, and Johnathan Pasch—all former partners at Coral Capital Holdings—plan to transform an undisclosed public company into Build & Build Corporation, Bloomberg reports. The newly structured firm would hold BNB as its primary treasury asset, potentially becoming the first publicly traded entity to adopt BNB as a reserve currency.

If successful, the move would offer equity investors indirect exposure to BNB, echoing the strategy used by several public companies that have incorporated bitcoin into their balance sheets.

Corporate interest in crypto assets continues to surge. Data from BitcoinTreasuries indicates that publicly traded companies collectively hold about 834,779 BTC, representing over $83.8 billion in value.