Windtree Therapeutics has secured a $520 million loan to purchase BNB tokens

What’s new? Respiratory disease drug company Windtree Therapeutics received a $500 million loan from an unnamed institutional investor and sold $20 million worth of stock to Build and Build Corp. The $520 million raised will be used to purchase a token of the world’s largest crypto exchange, Binance (BNB).

Press release

What else is known? As part of the initiative, Windtree has also signed an agreement with the leading US-based centralized crypto exchange (CEX) Kraken. The exchange will be responsible for storing and executing over-the-counter (OTC) transactions with the BNB token for Windtree.

Kraken has received a work permit in the European Economic Area

Earlier, the exchange moved its global headquarters to Wyoming due to favorable regulatory conditions

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With the deal, Windtree will become the first publicly traded company in the United States to offer investors access to BNB through its shares. It will also become one of the largest participants in the Binance Smart Chain (BSC) blockchain ecosystem.

Earlier on July 16, Windtree entered into a $60 million to $200 million funding agreement with Build and Build Corp to invest in BNB.

Together, these deals give Windtree potential access to up to $720 million in token purchases.

The market capitalization of the company is $12 million. Its shares are traded on Nasdaq under the ticker WINT at $0,97, having lost 4,54% over the day. The fall since the beginning of the year amounted to 94,39%.

In turn, BNB ranks fifth in the overall list of cryptocurrencies by market capitalization with a $107 billion market cap. The asset is trading at $766,8, unchanged in price over the day. The growth since the beginning of the year amounted to 9%. Earlier this week, the asset hit an all-time high above $807.

ARK Invest has bought $182 million worth of shares of BitMine miner

The funds will be used to purchase ETH

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Recently, a number of public companies have announced their intention to invest in altcoins and hold them on their balance sheets.

For example, native tokens of the Solana (SOL) blockchain will be purchased by Accelerate of Asymmetric founder Joe McCann, marketing agency Thumzup Media, miner BIT Mining, Trump’s social network Truth Social, and blockchain startup DeFi Development Corp. In turn, BitMine miner Immersion is pursuing an Ethereum accumulation strategy.

In addition, Chinese chip maker Nano Labs raised $500 million by issuing convertible bonds and increased its balance in BNB tokens from $50 million to $90 million in July.