A group of former Coral Capital executives is in advanced discussions to raise roughly $100 million that would be used to buy Binance’s BNB token, according to people familiar with the plan. The capital will be injected into a Nasdaq-listed shell company that will be renamed Build & Build Corporation, echoing the ticker of the exchange token it intends to accumulate. The venture—led by Patrick Horsman, Joshua Kruger and Johnathan Pasch—would be the first publicly traded firm to adopt BNB as its primary treasury asset, mirroring MicroStrategy’s high-profile Bitcoin strategy. The backers aim to complete the fundraising and begin purchasing the token later this month, betting that concentrated exposure inside a listed vehicle will appeal to equity investors seeking crypto-linked returns without direct custody. BNB, the world’s fifth-largest cryptocurrency by market value, changed hands at about $630 on Monday, up nearly 5% on the day. Former Binance Chief Executive Officer Changpeng Zhao said he supports the initiative but stressed that neither he nor the exchange is driving it, noting that BNB is the native coin of a public blockchain rather than of Binance Holdings itself.