Investor enthusiasm for alternative crypto treasury strategies is building as a group of hedge fund veterans aim to channel significant capital into Binance’s native token, BNB. Patrick Horsman, Joshua Kruger, and Johnathan Pasch reportedly disclosed that they are in negotiations to raise $100 million to purchase BNB tokens, Bloomberg reported Monday. The publication reviewed documents indicating that the former Coral Capital Holdings executives plan to utilize a Nasdaq-listed company under their control, which will be renamed Build & Build Corporation. The plan is to make Build & Build Corp. the first publicly traded company to hold BNB as its primary treasury asset, offering investors indirect exposure to Binance’s ecosystem through equity markets.

Binance founder and former CEO Changpeng Zhao (CZ) addressed the development on social media platform X. “And a few other markets around the world,” he commented, elaborating:

I heard about a few different companies doing this. So far, none are driven by me/us. But we are extremely supportive. BNB is a public blockchain native coin, not ‘linked’ to Binance Holdings Ltd or Binance CEX.

In a follow-up post on X, Zhao commented: “ BNB ‘microstrategy’ coming to a company near you!”

This strategy follows a broader movement where public companies adopt digital assets as core balance sheet holdings, a trend initially driven by Michael Saylor’s Microstrategy (Nasdaq: MSTR), now rebranded as Strategy. While early adopters focused on bitcoin, newer participants are diversifying into other tokens. Some firms have announced plans to add XRP to their holdings, reflecting growing confidence in a variety of digital assets. Proponents believe that these public-market crypto treasury strategies could strengthen institutional confidence and foster broader mainstream adoption.

Zhao has also provided advisory support to governments exploring crypto. He has notably advised Kyrgyzstan’s National Crypto Committee, recommending that the country consider adding bitcoin and potentially BNB to its national reserves. His guidance emphasizes diversification of financial assets and integrating digital currencies into national economic strategies.

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