Key Takeaways:
Nano Labs has started building a $1B BNB treasury, aiming to accumulate up to 10% of BNB’s circulating supply.
The company has already acquired $160M worth of BNB and Bitcoin.
SkyBridge Capital’s Anthony Scaramucci warns crypto treasuries may lose investor appeal over time.
Chinese Firm Nano Labs Kicks Off Plan to Acquire 10% of BNB Supply
Chinese microchip company Nano Labs has officially begun its bold plan to accumulate up to 10% of BNB’s circulating supply, starting with a $50 million purchase of Binance’s native token. The firm reaffirmed its long-term goal of acquiring up to $1 billion worth of BNB, aiming to hold between 5% and 10% of total circulation.
The latest purchase brings Nano Labs’ crypto holdings to approximately $160 million, split between BNB and Bitcoin, the company confirmed on Thursday.
Nano Labs, founded in 2019 by Kong Jianping and Sun Qifeng, specializes in high-throughput and high-performance computing chips. It went public in 2022 after both founders served on the board of Singapore-based hardware firm Canaan.
