Crypto hedge fund execs to raise $100M for BNB treasury vehicle — Report

According to Bloomberg, former executives at Coral Capital Holdings want to create a BNB treasury company.

Crypto hedge fund executives are reportedly aiming to raise $100 million to invest in Binance’s BNB token, in a move seen as mirroring Michael Saylor’s Bitcoin treasury strategy.

The effort is being led by Patrick Horsman, Joshua Kruger and Johnathan Pasch, who previously served as executives to Coral Capital Holdings, Bloomberg reported Monday. Coral Capital was a venture capital firm acquired by DNA Fund in 2024. 

According to Bloomberg, the executives plan to complete the fundraising this month and begin accumulating BNB (BNB) through a newly formed entity called Build & Build Corporation, which seeks to become a Nasdaq-listed company. 

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