Overview

Nano Labs, a chip manufacturer listed on Nasdaq, has acquired approximately $50 million worth of Binance’s BNB token as part of its strategy to hold up to 10% of the total supply.

• The company purchased 74,315 BNB at an average cost of $672.45 per token.
• This investment is part of a broader plan to allocate up to $1 billion towards BNB, supported in part by $500 million in convertible notes. This move elevates Nano Labs’ total digital asset reserves to approximately $160 million.

Additional Insights

Nano Labs’ initiative positions it among other investors eager to accumulate BNB tokens as treasury reserves. Recent reports indicate a group of former hedge fund managers has also proposed raising $100 million to invest in BNB through a listed shell company.

The acquisition reflects Nano Labs’ intent to enhance its digital asset portfolio amid increasing interest in cryptocurrencies.