Key Information:

• Former hedge fund executives have proposed raising $100 million to purchase Binance’s BNB token via a Nasdaq-listed shell company.
• They intend to convert an unnamed public firm into Build & Build Corporation, positioning BNB as its main treasury asset.
• This transaction would be the first instance of a public firm using BNB as a reserve currency, allowing investors indirect access to the token.

A coalition of hedge fund alumni is gearing up to invest $100 million in Binance’s BNB token through a shell company listed on Nasdaq. The proposal involves changing an incognito public firm into Build & Build Corporation. This would mark a historic occasion, as it would be the first public entity adopting BNB as a reserve currency, providing stockholders indirect investment exposure to the cryptocurrency.

This move aligns with the increasing trend of companies utilizing Bitcoin BTC and various cryptocurrencies as treasury reserve assets. Publicly traded companies collectively hold an estimated 834,779 BTC, worth in excess of $83.8 billion, as reported by BitcoinTreasuries.