VERY EXCITING NEWS

Nano Labs, a Hong Kong-based chipmaker and Web3 infrastructure company listed on Nasdaq, recently announced a major strategic move involving Binance Coin (BNB). The company revealed plans to issue $500 million in zero-interest, 360-day convertible notes, which can be converted into Nano Labs shares at $20 per share. The funds raised will be used to purchase up to $1 billion worth of BNB, aiming to hold 5% to 10% of the total BNB supply as a long-term treasury asset. This announcement triggered a strong market reaction: Nano Labs’ stock price more than doubled, surging from around $10.90 to between $22 and $29 in pre-market trading. At the same time, the price of BNB rose by about 3%, trading around $640. The move signals a growing trend of institutions shifting their treasury strategies away from Bitcoin and toward other major tokens like BNB. Binance co-founder CZ praised the decision but clarified that neither he nor Binance-affiliated entities are involved in the purchase. Overall, this bold step by Nano Labs highlights the increasing institutional confidence in Binance Coin as a reserve digital asset.