BNB Gets Big Backer as Nano Labs Begins Billion-Dollar Accumulation

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Nano Labs has kicked off a big plan to build a crypto pile by buying BNB tokens. The chip maker dropped $50 million on BNB this week. It’s the first step toward what the company says could be a $1 billion treasury fund for digital coins. According to Nano Labs, it wants to hold between 5% and 10% of all BNB in the market.

Related Reading: Tether Plants Crypto Roots In Renewable Farming: Bitcoin Mining Heads To Brazil## Nano Labs Stock Dips After Crypto Move

Based on reports, Nano Labs shares slid 4.5% during regular trading and another 2% in after‑hours to close at $8.20 on Thursday.

That drop came despite a previous rally when the firm unveiled a plan to sell $500 million in convertible notes to pay for crypto buys. The stock jumped over 100% after that funding news, but this week’s token purchase didn’t get the same reaction.

Funding Strategy Raises Questions

According to the company, its combined crypto wallet now holds about $160 million in BNB and Bitcoin. At today’s rate of around $658 per BNB, $50 million buys roughly 76 000 tokens.

To snag 10% of the 145,887,575 coins now circulating, Nano Labs would need about $926 million. Investors must weigh the cost of issuing convertible notes against simply buying crypto directly.

BNBUSD currently trading at $654,79. Chart: TradingView### BNB Stake Holds Risks

BNB itself climbed a modest 0.60% in the past 24 hours to hover near $654 as of press time. Its market cap stands at $93.4 billion.

According to a June 2024 Forbes report, Binance and its former CEO, Changpeng “CZ” Zhao, collectively control about 70% of the then‑circulating 147 million BNB tokens.

Image: Penn Today

Not A Guarantee For Win?

Anthony Scaramucci, who runs SkyBridge Capital, told Bloomberg that corporate crypto buys aren’t a sure win. He pointed out that if a firm takes $10 in funding and puts $8 into Bitcoin, shareholders might be better off just buying Bitcoin themselves. His view is that teams should lay out clear cost and profit maps before chasing big crypto stakes.

Related Reading: Bitcoin Sees Profit‑Taking As Lawmakers Gear Up For ‘Crypto Week’Nano Labs was set up in 2019 by Sun Qifeng and Kong Jianping after they left the board of Canaan. The Singapore‑based hardware maker listed in 2022 and focuses on high‑speed computing chips.

Their shift into crypto comes as more companies park part of their cash in digital coins. But market watchers will be looking to see if Nano Labs can juggle chip design, note sales and token buying without running into trouble.

Featured image from Unsplash, chart from TradingView

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