Former hedge fund executive seeks $100 million to launch BNB Treasury fund

Executives from former Coral Capital Holdings are looking to set up a treasury company that will invest in Binance’s BNB token.
On the 23rd (local time), Bloomberg reported that former executives of the cryptocurrency hedge fund industry had announced that Michael Saylor
The company is reportedly seeking to raise $100 million to invest in BNB in a manner that mimics Saylor's Bitcoin Treasury strategy.
The project was led by Patrick Horsman, Joshua Kruger, and
The fund is led by three former Coral Capital Holdings executives: Kruger, Jonathan Pasch, and others.
Coral Capital is a venture capital firm that was acquired by DNA Fund in 2024.
According to Bloomberg, they plan to complete the fundraising this month and set up a new
The company plans to acquire BNB through the Build & Build Corporation, which it established in 2013.
BNB is currently the fifth largest cryptocurrency by market capitalization, valued at approximately $87.8 billion according to CoinMarketCap.
It is the core utility token of the nce ecosystem and the native asset of the BNB Beacon Chain.
Asset management firm Standard Chartered said in a May report that increased activity on the BNB network has helped it more than double in price this year.
It is predicted that there is a possibility of an increase.