Former Hedge Fund Managers Gathered: They May Announce a $100 Million Purchase from This Altcoin Soon! It Will Be a First in History

A group of hedge fund managers is conducting advanced negotiations to raise a fund of 100 million dollars with the aim of acquiring BNB coins associated with the cryptocurrency exchange Binance.

The plan is being carried out by former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger, and Johnathan Pasch.

The name of a Nasdaq-listed company will be changed to transform it into a BNB-focused company.

According to investor documents reviewed by Bloomberg News, this trio wants to carry out this plan using a Nasdaq company whose name has not been disclosed. The fundraising process is expected to be completed within this month. Afterwards, the company’s name is planned to be changed to “Build & Build Corporation” and to start directly accumulating BNB.

The BNB treasury creation plan bears similarities to the Bitcoin treasury model initiated by Michael Saylor through MicroStrategy. This strategy, which Saylor launched in 2020 as a measure against inflation, has led to an approximate Bitcoin reserve of 60 billion dollars to date. Following Saylor, companies such as SoftBank Group, Tether Holdings SA, and Donald Trump’s social media initiative have also taken similar steps.

According to investor presentations, Build & Build Corporation will be the first publicly traded company to hold BNB as its primary asset in its treasury. This structure aims to provide investors with indirect access to the Binance ecosystem through the public market.

*This is not investment advice.

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