Chinese Firm Buys a Ton of BNB, Aims for $1 Billion Worth – You Won’t Believe What Happens Next! 😲💸

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Well, well, well, looks like Nano Labs, that Chinese company that’s been making waves in the crypto world, has decided to add some Binance Coin (BNB) to their corporate treasury. And not just a little bit – they’ve got their hands on a whopping 74,315 BNB, which cost them about $50 million at an average price of $672.45 per coin.

Now, you might be thinking, “Why BNB, of all things?” Well, it seems Nano Labs is a fan of the leading crypto exchange’s native token, which currently boasts a market cap of around $100 billion, according to CoinGecko data. And let’s not forget that Nano Labs is already sitting on a cool 1,000 BTC, making them the 31st largest corporate treasury holding the leading asset.

Nano Labs Joins the Crypto Party

So, what’s the deal with Nano Labs, you ask? They’re a publicly traded company on the NASDAQ that specializes in producing mining chips and Web3 infrastructure. And they’re not just dabbling in crypto – they’re going all in! In fact, they’ve even shared a press release stating their intention to apply for a stablecoin license in Hong Kong and build regulatory frameworks for Bitcoin and BNB.

With this latest purchase, Nano Labs’ total reserve of digital currencies is now around the $160 million mark, which includes Binance Coin and Bitcoin. And guess what? They’re the first publicly traded company to hold BNB in their reserves! But they’re not the only ones jumping on the crypto bandwagon – others are following suit.

Before the end of last year, Nano Labs also announced that they’d started accepting payments in Bitcoin. Talk about staying ahead of the curve! As they put it, “Nano Labs’ acceptance for payments in Bitcoin aligns with its long-term vision of staying at the forefront of technology advancements and delivering added value to clients worldwide.”

“With this new capability, the Company is positioned to attract a broader range of partners and customers who value progressive financial options.”

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2025-07-05 20:39