Share this article
Kraken to Support Biotech Firm Windtree’s $200M BNB Treasury Play
Crypto exchange Kraken will custody and manage BNB assets for Windtree Therapeutics' crypto treasury plan tied to Binance Chain.
Updated Jul 23, 2025, 8:18 a.m. Published Jul 22, 2025, 3:15 p.m.
What to know:
- Windtree says it's the first Nasdaq-listed firm to directly hold BNB as part of a crypto treasury strategy.
- Kraken will offer custody, trading, and OTC services once shareholder approval is complete.
Nasdaq-listed biotech firm Windtree Therapeutics has entered into a strategic partnership with crypto exchange Kraken to manage its BNB-focused crypto treasury program, the companies announced Tuesday.
The deal will see Kraken handle custody, trading and over-the-counter (OTC) execution of BNB assets for Windtree.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
So far $60 million has been raised, and another $140 million could be on the cards for the BNB treasury strategy, so potentially a $200 million deal, a Kraken representative said via email.
Crypto treasury plays are all rage right now. Windtree says this is the first treasury strategy focused on BNB, the native asset of the BNB Smart Chain. BNB currently ranks among the top five cryptocurrencies by market cap and sees over $2 billion in daily trading volume.
Kraken, which serves both institutional and retail clients, will offer Windtree access to secure wallets, deep liquidity, and large-scale execution services. “We’re enabling them to navigate the Binance ecosystem with confidence,” said David Olsson, Kraken’s global head of institutional client solutions.
BNB is used to pay fees and interact with applications on BNB Smart Chain, which hosts thousands of decentralized apps. By using Kraken’s infrastructure, Windtree aims to create a pipeline between traditional shareholders and a DeFi ecosystem that's typically out of reach for U.S. investors.
The final agreement will be signed following shareholder and regulatory approval.
UPDATE (July. 23, 10:20 UTC): Changes from Binance Smart Chain to BNB Smart Chain in two places
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
