According to Bloomberg, the trio of former leaders from Coral Capital Holdings—Patrick Horsman, Joshua Kruger, and Johnathan Pasch—are planning to raise $100 million to establish the first public company to hold BNB, the fifth-largest cryptocurrency in the world. This transaction will be executed through Build & Build Corporation, a shell company listed on the stock exchange controlled by this group.
Once sufficient funds are raised, Build & Build will change its name and begin accumulating BNB as its primary asset in the treasury, providing investors with indirect access to the Binance ecosystem—the largest cryptocurrency exchange in the world.
Since President Donald Trump’s victory in the 2024 election, the trend of viewing cryptocurrencies as strategic assets has exploded among American businesses. Many public companies, inspired by MicroStrategy’s “buy Bitcoin” model, have started accumulating cryptocurrencies to diversify their portfolios. Projects like Twenty One (backed by Tether Holdings) and Nakamoto Holdings have implemented similar strategies with Bitcoin.
Related: Kraken Lists BNB: A Sign of Shifting Regulatory Winds in the US
However, this trend is expanding to other major cryptocurrencies like Ethereum, XRP, Solana, and now BNB. In a notable move, Justin Sun’s Tron network is also preparing to enter the U.S. market through a reverse merger with SRM Entertainment, indicating diversification in cryptocurrency investment strategies.
If Build & Build’s deal is successful, it will become the world’s first public company to hold BNB in its treasury, marking an important milestone in integrating cryptocurrencies into the traditional financial system. BNB, initially issued through an ICO by Binance in 2017, is currently priced at around $623, having increased by 2% over the past 24 hours, according to data from CoinGecko. With its outstanding market capitalization, BNB is one of the most significant cryptocurrencies, playing a core role in the Binance ecosystem.
This move not only strengthens BNB’s position but also reflects a new trend: public companies are looking to leverage the growth potential of leading cryptocurrencies beyond Bitcoin. The listing of BNB through Build & Build is expected to attract attention from institutional investors, expanding access to the crypto market without the need to directly own cryptocurrency assets.
