WARRINGTON, PA — Windtree Therapeutics, Inc. (NasdaqCM: WINT) has entered into a strategic partnership with Kraken, a leading global cryptocurrency platform, to support custody, trading, and over-the-counter (OTC) services for its BNB Crypto Treasury Strategy. The agreement is outlined in a signed term sheet and will be finalized following shareholder approval of Windtree’s previously announced securities purchase agreement, which could bring in up to $140 million in future subscriptions led by Build and Build Corp.
With the move, Windtree becomes the first NASDAQ-listed company to offer pure play direct exposure to the BNB token, the fifth-largest blockchain by market capitalization. The partnership is designed to position Windtree as a gateway for retail and institutional investors to securely access the Binance ecosystem, leveraging Kraken’s infrastructure to manage assets and facilitate high-volume transactions.
Windtree CEO Jed Latkin said the collaboration supports the company’s strategy to establish a leadership position in crypto-based corporate treasury operations. “We are excited to partner with Kraken, a trusted leader in the cryptocurrency industry, to support our groundbreaking BNB strategy,” said Latkin. “Kraken’s expertise and secure platform will strengthen our ability to deliver unparalleled exposure to the Binance ecosystem, creating significant value for our shareholders.”
Kraken, which operates a robust institutional platform, will provide secure custody and deep liquidity through its OTC desk. “Kraken is proud to partner with Windtree to help expand access to BNB and Binance Smart Chain for a broader audience,” said David Olsson, Global Head of Institutional Client Solutions at Kraken. “Our deep liquidity and industry-leading security infrastructure allow us to deliver bespoke solutions tailored to the needs of corporate treasury teams. With qualified custody, a leading staking platform, and seamless OTC execution, we’re well-positioned to support Windtree as they execute their digital asset strategy with confidence and precision.”
Windtree’s BNB strategy targets the Binance Smart Chain (BSC), which supports thousands of decentralized applications and millions of users globally. Daily trading volumes for BNB exceed $2 billion, with strong liquidity making it a viable asset for blockchain-native treasury initiatives.
The agreement includes a phased approach, beginning with a definitive agreement after shareholder approval. It also reflects Windtree’s broader effort to offer secure, yield-generating exposure to digital assets for shareholders.
The term sheet and related securities agreements remain subject to standard closing conditions and regulatory requirements. Windtree clarified that this announcement does not constitute an offer to sell securities.
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