Ex-Coral Capital Execs Launch BNB Firm, Seek $100M

Former executives from Coral Capital Holdings are embarking on a new venture to create a crypto treasury firm focused on investing in Binance’s exchange token, BNB. As reported by Bloomberg, they aim to secure $100 million for this initiative. The newly established entity, Build & Build Corporation, is expected to conclude its fundraising and begin its acquisition of BNB this month. The company seeks to become public through a reverse buyback of an unnamed Nasdaq-listed company. Leading the firm are ex-Coral Capital execs Patrick Horsman, Joshua Kruger, and Johnathan Pasch. Coral Capital was originally founded in 2021 and was later acquired by DNA Fund in 2024. Former Binance CEO Changpeng Zhao has highlighted that BNB is not directly linked to Binance Holdings Ltd or its exchange, emphasizing its independence. BNB, the fifth-largest cryptocurrency by market cap, is currently valued at approximately $630, showing a rise of nearly 5% today according to The Block's data. Build & Build Corporation joins other crypto treasury companies that offer leveraged exposure to digital assets like Solana, Ethereum, and Bitcoin. Disclaimer: The Block is an independent media outlet providing news and data. Foresight Ventures is a major investor in The Block and has interests in the crypto industry.