BNB Gets $500M+ Boost as Windtree Therapeutics Commits to Crypto

Windtree Therapeutics (NASDAQ: WINT), a U.S.-listed biotech firm, signed agreements totaling $520 million to support a major shift into cryptocurrency. The company plans to use 99% of the funds raised to acquire BNB, the native token of BNB Chain.

The agreements include a Common Stock Purchase Agreement for up to $500 million and a separate $20 million stock deal with Build and Build Corp. Both are subject to shareholder approval, particularly regarding an increase in authorized shares before the equity line of credit (ELOC) can be activated.

BNB Strategy For Long-Term Capital Planning

Windtree CEO Jed Latkin emphasized that the funding is intended to build a substantial BNB treasury reserve. He said the company is aligning its long-term financial planning with blockchain-based assets, calling BNB “an essential part” of its future strategy.

Latkin added:

"Pending stockholder approval, the opportunity to secure additional funds for purchasing more BNB cryptocurrency is essential to our strategy."

By leveraging BNB—a token known for its ecosystem utility, smart contract support, and consistent on-chain activity—Windtree is aiming to hedge against inflation and diversify its holdings beyond U.S. dollars or other fiat-denominated assets.

What Is an Equity Line of Credit (ELOC)?

The equity line of credit allows Windtree to raise capital by issuing new shares over time. Once shareholder approval is granted, the ELOC will serve as a flexible funding tool to support Windtree’s strategic BNB accumulation.

This type of funding avoids traditional debt and instead issues equity as needed, which can be advantageous for a company planning long-term digital asset purchases.

Build and Build Corp, a company aligned with crypto-friendly initiatives, will provide $20 million in funding. Patrick Horsman, CFA and director at Build and Build Corp, noted that the flexibility of the ELOC structure gives Windtree room to execute its crypto vision.

"The ELOC provides the flexibility and scale needed to execute on this digital asset treasury vision," said Horsman.

Why BNB?

BNB is the native token of BNB Chain, formerly known as Binance Smart Chain. It powers network transactions, smart contracts, and serves as a core asset across various decentralized applications (dApps), decentralized finance (DeFi) platforms, and exchanges.

With ongoing on-chain utility and deflationary tokenomics—driven by periodic burns—BNB has become one of the top five cryptocurrencies by market cap. Its strong liquidity and established role in the Binance ecosystem make it attractive to institutions seeking digital assets beyond Bitcoin or Ethereum.

Institutions Increasingly Turn to BNB

Windtree’s move follows a recent trend among public companies adding BNB to their balance sheets.

This approach is driven by:

• Inflation concerns and loss of purchasing power in fiat reserves
• 24/7 liquidity and global access offered by digital assets
• On-chain transparency and programmable treasury functions
• Institutional-grade custody solutions becoming available

Nano Labs, a China-based semiconductor company listed in the U.S., recently acquired 74,315 BNB for $50 million. It plans to increase holdings to 10% of the total circulating supply, targeting over $1 billion in future acquisitions. 

In addition, YZi Labs, affiliated with Binance co-founder Changpeng Zhao (CZ), has teamed up with 10X Capital to form BNB Reserve Company. This firm is building a regulated vehicle that could offer BNB exposure via public stock listings, led by Galaxy Digital co-founder David Namdar.

The goal is to position BNB alongside Bitcoin and Ethereum as a "treasury-grade" digital asset suitable for long-term institutional holding.

FAQ

1. What is Windtree Therapeutics planning to do with its $520 million funding?
   Windtree plans to use 99% of the funds raised through equity agreements to acquire BNB, the native cryptocurrency of BNB Chain.

2. Why is Windtree investing in BNB instead of Bitcoin or Ethereum?
   BNB offers unique utility within its ecosystem, deflationary tokenomics, and is seen as undervalued compared to Bitcoin and Ethereum by some institutions.

3. Is Windtree the first public company to adopt BNB in its treasury?
   No. Nano Labs, a chipmaker listed in the U.S., also committed to building a BNB treasury, with plans to acquire up to 10% of the total BNB supply.

Resources

• Official Windtree Therepeutics press release: https://www.globenewswire.com/news-release/2025/07/24/3121106/0/en/Windtree-Therapeutics-Announces-Up-To-520-Million-in-New-Funding-to-Amplify-BNB-Cryptocurrency-Treasury-Strategy.html

• Official 10X Capital press release: https://www.globenewswire.com/news-release/2025/07/10/3112964/0/en/YZi-Labs-Announces-Support-for-10X-Capital-s-BNB-Treasury-Company-in-the-U-S.html

• Official Nano Labs release: https://www.globenewswire.com/news-release/2025/07/03/3109830/0/en/Nano-Labs-Has-Purchased-About-US-50-Million-BNB-Expands-Digital-Asset-Reserves-to-around-US-160-Million.html