Catenaa, Sunday, June 29, 2025-A group of former Coral Capital Holdings executives plans to launch a crypto treasury venture focused on Binance’s exchange token, BNB, aiming to raise $100 million for strategic acquisitions, Bloomberg reported Monday.
The new entity, Build & Build Corporation, a nod to BNB’s ticker, will be led by Coral Capital veterans Patrick Horsman, Joshua Kruger, and Johnathan Pasch. The firm plans to go public via a reverse buyback of an undisclosed Nasdaq-listed company, with BNB token purchases expected to begin this month.
Coral Capital was founded in 2021 and acquired by DNA Fund in 2024. The new venture joins a growing list of crypto treasury firms designed to offer investors direct exposure to native blockchain assets, including Bitcoin, Ethereum, and Solana.
Build & Build’s model draws parallels with MicroStrategy’s high-profile bitcoin accumulation strategy. Former Binance CEO Changpeng Zhao described it as a “BNB MicroStrategy,” though he clarified that neither Binance Holdings nor Binance CEX is affiliated with the new firm. Zhao emphasized BNB’s role as a public blockchain-native asset, independent of the exchange.
BNB, the fifth-largest cryptocurrency by market cap, traded around $630 on Monday, gaining nearly 5% on the day. The move signals rising institutional interest in strategic treasury allocations within the digital asset ecosystem.
Build & Build Corporation’s entry into the market underscores a continuing trend toward token-centric treasury vehicles and could influence BNB’s long-term adoption outlook.
