$BNB
A biotech company is also going all-in on BNB!
After raising $27 million, it invested another $5.3 million to increase its holdings,
holding a total of 15,000 BNB!
Applied DNA (NASDAQ: BNBX) has officially announced the completion of its previously announced private placement (PIPE) financing round, led by a joint investment from DeFi and traditional finance institutions.
The company secured approximately $27 million directly from this round, with the option to receive up to $31 million more from future investors through the exercise of warrants. Of this $27 million, $15.3 million is held in cash and stablecoins, and the remaining $11.71 million is held in shares of the OBNB Trust Fund. These fund shares represent an indirect holding of 10,647 BNB.
Even more impressively, the company also purchased 4,908 BNB itself that same day, which, based on the price on October 20th, would have been worth $5.3 million. It now holds over 15,000 BNB-related assets, proving its commitment to being a die-hard BNB holder.
Why would a biotechnology company focus on hoarding BNB instead of focusing on scientific research? In fact, it has long since transitioned to a "BNB digital asset treasury" strategy, even changing its stock ticker to BNBX, driven by its desire to profit from the Binance ecosystem.
#CryptoMarketPullback #BNB











