Crypto cash fever has gripped business leaders and their shareholders around the world. This trend has now spread to altcoins, with mixed results. Binance’s BNB cryptocurrency is now attracting the attention of crypto hedge fund managers.
The corporate crypto cash fever
It’s hard to ignore the buzz surrounding corporate crypto cash strategies. This momentum is clearly driven by the success of the leader in the field, Strategy, with a strong preference for accumulating Bitcoin.
However, some participants in this race seem to want to bring altcoins into the equation. This is the case, for example, with Nasdaq-listed company Eyenovia, whose cash reserves have been boosted by $50 million in HYPE tokens from the Hyperliquid platform.
The integration of exchange tokens seems to be giving ideas to a group of crypto hedge fund managers, according to the latest revelations from Bloomberg. The new target identified is the utility token of the BNB Chain, initially developed by the Binance platform.
BNB enters the race
The information comes from Bloomberg, regarding a corporate cash reserve focused on the BNB cryptocurrency. A project currently being discussed by former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger, and Johnathan Pasch, for an announced amount of $100 million.
The financial arrangement is supposed to go through an unidentified Nasdaq-listed company, renamed Build & Build Corporation for the occasion. Or how to replicate almost identically the model of Tron Treasury Company recently announced by Justin Sun.
According to documents consulted by Bloomberg, Build & Build Corporation wants to become “the first publicly traded company to hold BNB as a reserve asset, offering exposure to the Binance ecosystem through public markets.” It’s a gamble that could pay off if BNB actually reaches $2,775 by 2028, according to recent estimates by Standard Chartered analysts.
