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A group of former crypto hedge fund executives is set to raise $100 million to acquire BNB tokens, marking a significant move in institutional crypto investment.
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The acquisition will be executed through a Nasdaq-listed company, which plans to rebrand as Build & Build Corporation, positioning BNB as its primary asset.
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Changpeng Zhao (CZ), Binance’s founder, expressed support for the initiative while clarifying that Binance itself is not involved, emphasizing BNB’s status as a public blockchain native coin.
Hedge fund execs plan $100M BNB purchase via Nasdaq-listed firm, with Binance founder CZ endorsing the move as BNB gains institutional traction.
Institutional Interest in BNB Signals Growing Confidence in Binance Ecosystem
The announcement that a group of former crypto hedge fund executives, including Patrick Horsman, Joshua Kruger, and Johnathan Pasch, are orchestrating a $100 million purchase of BNB tokens represents a pivotal development in the crypto market. By leveraging a Nasdaq-listed company to hold BNB as its main asset, this initiative introduces a novel approach to institutional crypto investment. The planned rebranding of the company to Build & Build Corporation underscores its strategic focus on the Binance ecosystem’s native token.
This move is particularly noteworthy as it marks the first time a publicly traded company will hold BNB as a core asset, potentially setting a precedent for other firms to follow. The executives’ decision to consolidate BNB within a regulated corporate structure could enhance transparency and investor confidence, aligning with broader trends of institutional adoption in the cryptocurrency space.
Binance Founder CZ’s Perspective and Market Implications
Changpeng Zhao, widely known as CZ, responded to the news with cautious optimism. In his public statements, he clarified that Binance itself is not directly involved in the transaction but expressed strong support for the initiative. CZ highlighted that BNB is a public blockchain native coin, distinct from Binance Holdings Ltd or its centralized exchange, Binance CEX. This distinction is critical as it reinforces BNB’s decentralized nature and its broader utility beyond the Binance platform.
Furthermore, CZ’s comparison of this development to Michael Saylor’s MicroStrategy strategy—where a public company accumulates Bitcoin as a treasury asset—suggests that BNB could be the next major cryptocurrency to attract institutional treasury interest. This analogy positions BNB as a viable store of value and a strategic asset for corporate portfolios, potentially accelerating its adoption among institutional investors.
Broader Trends in Corporate Cryptocurrency Holdings
The Build & Build Corporation’s planned acquisition of BNB aligns with a growing trend of companies integrating cryptocurrencies into their balance sheets. MicroStrategy’s aggressive Bitcoin accumulation since 2020 has inspired several firms, including SoftBank, Tether, and Truth Social, to diversify their holdings with digital assets. These companies view cryptocurrencies not only as speculative instruments but also as potential hedges against inflation and currency devaluation.
Additionally, other cryptocurrencies such as Ethereum and Solana have attracted institutional interest. For example, SharpLink Gaming recently raised $463 million to purchase Ethereum, while firms like Upexi and Janover are building reserves in Solana. This diversification reflects a maturing market where multiple blockchain ecosystems are recognized for their unique value propositions.
Historical Context and Regulatory Developments Affecting BNB
BNB was launched in 2017 through an initial coin offering (ICO) by Binance, which remains the world’s largest crypto exchange by trading volume. The ICO allocated 80 million tokens to the founding team, including CZ, with proceeds used to develop the Binance platform. Despite regulatory challenges, including Binance and CZ’s 2023 guilty pleas related to money laundering and U.S. sanctions violations, the project has maintained resilience.
Binance agreed to pay $4.3 billion in fines, and CZ stepped down as CEO after a $50 million payment. Since then, regulatory sentiment in the U.S. has shifted, with increased support for crypto innovation, partly influenced by former President Donald Trump’s advocacy. Notably, the SEC dropped its lawsuit against Binance in May 2025, signaling a potential easing of regulatory pressures and fostering a more favorable environment for institutional crypto activities.
Conclusion
The planned $100 million BNB acquisition by former hedge fund executives through a Nasdaq-listed company highlights a significant evolution in institutional cryptocurrency adoption. With Binance founder CZ’s endorsement and the precedent set by firms like MicroStrategy, BNB is positioned to gain increased recognition as a strategic corporate asset. This development reflects broader market dynamics where regulated entities are embracing digital assets, potentially driving further mainstream acceptance and integration of cryptocurrencies within traditional financial frameworks.
