BNB Power Move: Windtree Therapeutics Eyes $520M Mega-Fund to Supercharge Crypto Holdings

Windtree Therapeutics just placed a half-billion-dollar bet on BNB’s dominance—and Wall Street didn’t see it coming.

The $520M Gambit

The biotech-turned-crypto player is pivoting hard, channeling VC energy into digital assets. That fund size? Enough to make even degenerate DeFi degens blink.

BNB’s Institutional Moment

Forget ‘hedge fund hotels’—this is a full-service crypto resort. Windtree’s move screams institutional confidence in Binance’s ecosystem, pandemic-era PTSD be damned.

The Punchline

Another day, another nine-figure fund chasing crypto yields. At least this one didn’t launch at ATH.

Windtree Therapeutics Partners With Kraken

According to the announcement, the biotech firm and the US-based cryptocurrency exchange have signed a term sheet that will be formalized into a definitive agreement pending shareholder approval of Windtree’s securities purchase agreement. 

This partnership is said to open the door for potential future subscriptions of up to $140 million, led by Build and Build Corporation, further solidifying Windtree’s dive into the cryptocurrency ecosystem. 

By aligning with Kraken, Windtree aims to leverage the exchange’s security, liquidity, and expertise in digital asset management. Notably, Windtree distinguishes itself as the first Nasdaq-listed company to offer direct exposure to the BNB token, which ranks as the fifth-largest digital asset by market capitalization, exceeding $100 billion. 

Kraken’s infrastructure is expected to play a vital role in ensuring the secure custody and efficient trading of BNB assets. The exchange’s over-the-counter desk will facilitate transactions related to Windtree’s Binance Coin treasury strategy.

The Key To Windtree’s BNB Strategy Success

Jed Latkin, Chief Executive Officer of Windtree, expressed enthusiasm about the partnership, stating:

We are excited to partner with Kraken, a trusted leader in the cryptocurrency industry, to support our groundbreaking BNB strategy. Kraken’s expertise and secure platform will strengthen our ability to deliver unparalleled exposure to the Binance ecosystem, creating significant value for our shareholders.

David Olsson, Global Head of Institutional Client Solutions at Kraken, echoed this sentiment, emphasizing the exchange’s commitment to expanding access to BNB and the Binance Smart Chain. 

“Our DEEP liquidity and industry-leading security infrastructure allow us to deliver bespoke solutions tailored to the needs of corporate treasury teams,” he added. 

“With qualified custody, a leading staking platform, and seamless OTC execution, we’re well-positioned to support Windtree as they execute their digital asset strategy with confidence and precision.”

As of this writing, Binance Coin is trading at $782, marking a 20% surge over the past month. This makes it one of the top performers among the ten largest cryptocurrencies in the market over this period. Yet, the token has a 3% gap from its record high of $809.

Featured image from DALL-E, chart from TradingView.com