Nano Labs Makes Big Move Into BNB With $50 Million Purchase
Nano Labs, the Hong Kong-based chip designer listed on Nasdaq, just dropped $50 million on Binance’s BNB token—and it sounds like they’re just getting started. The company scooped up 74,315 BNB in an over-the-counter deal, paying around $672.45 per token on average. That’s a hefty bet, especially when you consider their broader plan to eventually hold up to 10% of BNB’s total supply.
Right now, BNB’s price sits at roughly $658, which means Nano Labs is already sitting on a slight loss. But given their long-term strategy, they might not be too worried about short-term dips.
A Growing Crypto Portfolio
This latest purchase bumps Nano Labs’ total crypto holdings to about $160 million, including bitcoin. The company hasn’t been shy about its ambitions—they’ve talked about allocating up to $1 billion toward BNB, partly funded by $500 million in convertible notes.
Still, investors don’t seem entirely convinced. Shares of Nano Labs dropped nearly 5% on Thursday, then slipped another 2% after hours, settling at $8.20. Whether that’s skepticism about the crypto play or broader market jitters isn’t entirely clear.
BNB as a Treasury Asset: A Growing Trend?
Nano Labs isn’t the only one eyeing BNB as a reserve asset. Just last month, a group of ex-hedge fund managers announced plans to raise $100 million to buy the token through a Nasdaq-listed shell company. It’s an interesting shift—BNB, which started as Binance’s in-house token, is now being treated almost like a blue-chip crypto holding by some firms.
That said, it’s a risky move. BNB’s value is tightly linked to Binance’s fortunes, and the exchange has faced its share of regulatory headaches. If Binance stumbles, BNB could take a hit. But for companies like Nano Labs, the potential upside—whether in price appreciation or strategic partnerships—might outweigh the risks.
For now, all eyes are on whether Nano Labs follows through with its billion-dollar plan. If they do, it could signal a bigger shift in how corporations view crypto reserves. Or maybe it’s just a bold gamble. Time will tell.
