Nano Labs Buys $50 Million in BNB, Eyes 10% Supply Grab

* Nasdaq-listed Nano Labs acquires 74,315 BNB for $50 million. * Firm aims to hold 5%-10% of BNB's circulating supply as a core treasury asset. On July 3, 2025, a GlobeNewswire press release reported that Nasdaq-listed chip designer Nano Labs purchased 74,315 Binance Coin (BNB) tokens for approximately $50 million via an over-the-counter (OTC) transaction at an average price of $672.45 per token. This acquisition marks a major expansion of the company’s crypto treasury, bringing its total digital asset reserves, which also include Bitcoin, to approximately $160 million. The move is part of the company's broader strategy to establish BNB as a key corporate treasury asset. The China-based technology firm has set a long-term goal to hold 5% to 10% of BNB’s circulating supply. To support these acquisitions, Nano Labs plans to raise $500 million through a convertible notes offering, a strategy intended to help the company diversify its balance sheet and align its treasury with broader business goals. As the first U.S.-listed company to center its corporate treasury on Binance Coin, Nano Labs’ decision sets it apart from peers like MicroStrategy, SharpLink, and BitMine, which have primarily focused on Bitcoin. Financial markets had a mixed reaction to the development. Nano Labs’ stock initially surged when the company first announced its BNB treasury strategy. However, it later declined by over 9% following the news of this latest acquisition. According to data from CoinMarketCap on July 3, Binance Coin (BNB) was trading at $661.20 as of 19:08 UTC, representing a 0.37% decrease over the previous 24 hours.