Biotech Firm Acquires $200M Binance Coin, Sets Crypto Treasury Strategy
Windtree Therapeutics, a NASDAQ-listed biotech firm (NasdaqCM: WINT), is making headlines with its bold entry into the crypto space, becoming the first public U.S. company to adopt Binance Coin (BNB) as a core treasury asset.
The company has filed to raise $200 million to build a BNB-focused treasury initiative, partnering with Build and Build Corp. for the strategy. The plan includes a $60 million securities purchase agreement, with an option for an additional $140 million in future rounds. Funds will be offered in a mix of cash, BNB tokens, and Osprey BNB Chain Trust units, and will be used to acquire BNB and create a digital asset management framework.
CEO Jed Latkin called the investment “an attractive opportunity” for shareholders to gain institutional-grade exposure to Binance’s ecosystem. Windtree plans to implement secure BNB custody solutions and explore DeFi yield mechanisms on Binance Smart Chain (BSC), a network known for its low fees, high speed, and deep DeFi adoption.
Patrick Horsman, Director of Build and Build Corp., added that the venture “fills a large void in regulated investment vehicles for BNB,” signalling growing demand for crypto-native treasury strategies. The crypto investing firm is backed by heavyweights including Kraken, Galaxy, Silvermine, and Off The Chain Capital.
BNB, the native token of the Binance ecosystem, currently ranks fifth globally by market cap, powering billions in daily exchange volume. Windtree aims to tap into this liquidity and the rapidly expanding Asian DeFi market through BNB exposure.
While traditionally focused on biotech, Windtree is now positioning itself as a diversified company, balancing pharmaceutical innovation with forward-looking blockchain finance.
The deal is still subject to shareholder and regulatory approval, but if finalised, Windtree will become the first NASDAQ firm to officially hold BNB as a treasury asset — a move that may inspire other publicly traded companies to follow suit.
