Hedge Fund Executives Eye $100 Million to Accumulate BNB Token
Takeaways by Bloomberg AI
A team of crypto hedge fund executives are in advanced talks to raise $100 million for investing in a token linked to Binance Holdings Ltd. through a publicly listed company they control, in the latest spin on the Bitcoin treasury blueprint pioneered by Michael Saylor’s Strategy.
Former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger and Johnathan Pasch are behind the pitch, according to an investor document reviewed by Bloomberg News. They aim to complete the fundraising this month and then rename the unidentified Nasdaq-listed company Build & Build Corporation and start accumulating the BNB token, the materials show.