Nano Labs has announced plans to raise $500 million through convertible notes to acquire up to $1 billion worth of Binance’s BNB token. The strategic move positions the company to hold 5-10% of BNB’s circulating supply.
Binance co-founder Changpeng Zhao (CZ) publicly endorsed the initiative, highlighting strong market confidence. Following the announcement, Nano Labs’ stock surged over 100%.
The convertible notes approach enables Nano Labs to secure capital for massive BNB accumulation while providing investors a balanced risk-reward structure through future conversion options.
Success could establish Nano Labs as a major liquidity influencer within the BNB ecosystem, potentially impacting the token’s price stability due to the scale of holdings.
This capital raise emerges alongside growing institutional interest in BNB, notably evidenced by VanEck filing for a spot ETF focused on the token.