Former Coral Capital Executives Aim to Launch BNB Treasury Firm, Targeting $100 Million Raise

A trio of former Coral Capital Holdings executives is setting its sights on creating a new kind of crypto treasury. This one should be centered entirely on Binance’s BNB token. According to Bloomberg, Patrick Horsman, Joshua Kruger, and Johnathan Pasch are leading an ambitious effort to raise $100 million for a company that will accumulate BNB. They are mirroring the Bitcoin-heavy balance sheet strategy popularized by MicroStrategy’s Michael Saylor.

The move comes at a time when crypto investors in 2025 are increasingly seeking out 1000x tokens, rare digital assets that can multiply their original investment by a factor of one thousand. Bitcoin is soaring to $110K this month alone, and altcoins are riding 2025’s bull wave, so investors are racing to discover other coins with explosive potential. While those opportunities are sprouting, high-profile institutional bets like this one highlight growing confidence in the long-term potential of core assets like BNB.

The new entity, dubbed Build & Build Corporation, is expected to complete its fundraising round this month and begin purchasing BNB shortly after. The firm also intends to list on the Nasdaq, further legitimizing its treasury-centered approach and signaling the mainstream ambitions of its founders. Horsman, Kruger, and Pasch each held leadership roles at Coral Capital Holdings, a venture capital firm acquired in 2024 by DNA Fund, and are now seeking to establish Build & Build as the next institutional player in the evolving digital asset landscape.

BNB, the native token of the Binance ecosystem, currently stands as the fifth-largest cryptocurrency by market capitalization, with a $87.8 billion valuation according to CoinMarketCap. As a utility token, BNB plays a critical role in the Binance platform, including transaction fee reductions, network governance, and participation in decentralized applications built on the BNB Beacon Chain. Asset manager Standard Chartered projected in May that BNB could more than double in value this year due to increased network usage and broader adoption, making it an attractive target for long-term accumulation.

The strategy being pursued by Build & Build draws direct comparisons to MicroStrategy’s high-conviction Bitcoin playbook. Under the leadership of Michael Saylor, MicroStrategy has amassed over 592,000 BTC in just five years, including a $26 million purchase made last week despite geopolitical volatility. This method of converting corporate reserves into digital assets has gained traction across the globe, with several firms opting to add crypto to their balance sheets in pursuit of inflation-resistant growth.

Japan’s Metaplanet also made headlines this week, announcing an additional 1,111 BTC purchase, raising its total holdings to 11,111 BTC. In April, a Bitcoin acquisition vehicle named 21 Capital emerged from stealth mode, backed by heavyweights such as Cantor Fitzgerald, SoftBank, Tether, and Bitfinex. Tether and Bitfinex reportedly transferred $3.9 billion in BTC to the newly launched firm, underlining the growing institutional appetite for crypto treasury strategies.

With BNB’s future looking increasingly bright, Build & Build Corporation is betting big that it can replicate Bitcoin’s treasury success with a token that powers the world’s largest crypto exchange ecosystem.