Windtree Raises $520M to Expand BNB Treasury Strategy

Highlights:

• Windtree has secured $520M for its BNB Treasury strategy.
• A total commitment of $700M targets a large-scale BNB acquisition.
• Shareholder approval is required to activate the $500M ELOC.

Biotechnology company Windtree Therapeutics has announced two financial arrangements to raise $520 million. The amount will boost its holdings in the BNB Treasury. One deal comprises an equity line of credit (ELOC) worth $500 million, and the other comprises a $20 million share agreement with Build and Build Corp.

The ELOC enables Windtree to tap capital in the long term through share sales. It cannot, however, be utilized unless shareholders vote to authorize additional stock. The biotech company will utilize 99% of the sum total of the proceeds to purchase Binance Coin (BNB). The vision is to expand the portfolio and utilize the power of digital currencies. Windtree also disclosed its further BNB acquisitions, aiming to acquire up to $700 million. The move follows a wider enthusiasm for regulated exposure of crypto in the public markets. The move by Windtree also reflects an increasing number of institutions that incorporate crypto in their investments.

Nasdaq-listed biotech company Windtree Therapeutics (WINT) announced it has signed a $500 million equity line of credit (ELOC) agreement and an additional $20 million stock purchase deal, with total funding up to $520 million. 99% of the funds will be used to buy BNB.…

— Wu Blockchain (@WuBlockchain) July 25, 2025

Kraken to Manage BNB Treasury Assets

Earlier this week, Windtree announced a strategic alliance with the cryptocurrency exchange Kraken. Kraken will have custody and trading services to manage the BNB Treasury program at Windtree. This collaboration delivers secure management of the company’s cryptocurrencies.

The participation of Kraken will also facilitate cash liquidity and optimize treasury functions. The signed term sheet regarding cooperation between Windtree and Kraken will be official as soon as shareholders approve it. This move will enhance effectiveness and strengthen the security of cryptocurrency transactions.

This partnership positions Windtree to leverage Kraken's industry-leading security, liquidity, and expertise in digital asset management to support its pioneering BNB-focused treasury strategy, encompassing custody, security, and yield generation. https://t.co/6yMvu1OegP $WINT pic.twitter.com/cMCzzS6oF8

— Windtreetx (@windtreetx) July 23, 2025

Windtree’s funding comes following a commitment by Windtree already to purchase $60 million worth of BNB. Such investment was a result of a prior securities agreement with venture partners such as Build and Build Corp. There is a potential for further funding of up to $140 million as a result of the agreement with Build and Build Corp. The potential subscription also contributes to the active growth of the BNB position by Windtree

BNB Treasury Strategy Gains Institutional Momentum

The BNB Treasury project at Windtree is also part of the growing institutional demand for BNB. Other companies, such as Nano Labs, are also accumulating large reserves of BNB. Nano Labs announced a $1 billion BNB purchase strategy.

The BNB Treasury strategy corresponds to the optimism regarding the long-term importance of blockchain assets. Windtree’s CEO, Jed Latkin, said that securing funds to purchase more BNB is key to their roadmap. According to Latkin, the approval by stockholders would be an important step towards full utilization of the ELOC. Meanwhile, the BNB Treasury Company, which is reportedly supported by the family office of the founder of Binance, Changpeng Zhao, is considering listing publicly. More than 30 companies are now evaluating similar treasury plans, indicating an aggressive move toward crypto integration.

In addition, corporate BNB strategies are gaining momentum as the token surpassed Solana to become the fifth-largest asset in terms of market capitalization. BNB recently achieved a new all-time high, climbing above the $800 mark before facing a minor pullback. As of this writing, BNB is exchanging hands at around $767 with a market cap and trading volume of $105 billion and $2.70 million, respectively.