Former executives from Coral Capital Holdings are planning to launch a crypto treasury venture that will invest in Binance’s exchange token, BNB, Bloomberg reported on Monday. The firm is reportedly looking to raise $100 million to fund this plan.
According to Bloomberg, the executives expect to complete their fundraising and begin accumulating BNB this month through a newly formed entity called Build & Build Corporation. The company also plans to go public through a reverse buyback of an unidentified Nasdaq-listed company.
Build & Build Corporation, a play on the ticker BNB, will be led by former Coral Capital execs, including Patrick Horsman, Joshua Kruger, and Johnathan Pasch. Coral Capital, founded in 2021, was acquired by DNA Fund in 2024.
Former Binance CEO Changpeng Zhao referred to Build & Build as a “BNB ‘microstrategy,'” but noted the exchange is not directly affiliated with the plan.
“BNB is a public blockchain native coin, not ‘linked’ to Binance Holdings Ltd or Binance CEX,” Zhao said in a post on X.
BNB, the fifth-largest crypto by market cap, is currently trading hands at around $630, up nearly 5% on the day, according to The Block’s price data.
Build & Build Corporation will join the ranks of a legion of crypto treasury companies that offer leveraged exposure to a range of digital assets, including the native tokens for Solana, Ethereum, and most prominently Bitcoin, among others.
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