BNB Gets Big Backer As Nano Labs Begins Billion-Dollar Accumulation
2025-07-05 20:38:04
Main Idea
Nano Labs has initiated a plan to accumulate BNB tokens, aiming to hold 5-10% of the circulating supply, despite concerns over funding strategy and market risks.
Key Points
1. Nano Labs purchased $50 million worth of BNB tokens as part of a plan to accumulate 5-10% of the circulating supply, which would require approximately $926 million.
2. Nano Labs' stock dipped 4.5% during regular trading and 2% in after-hours trading following the announcement of the crypto purchase.
3. The company's combined crypto wallet now holds about $160 million in BNB and Bitcoin, funded partly by $500 million in convertible notes.
4. BNB's price saw a modest 0.60% increase in the past 24 hours, with a market cap of $93.4 billion, while Binance and its former CEO control about 70% of the circulating supply.
5. Anthony Scaramucci of SkyBridge Capital cautioned that corporate crypto purchases are not a guaranteed win, suggesting shareholders might be better off investing directly.
Description
Nano Labs has kicked off a big plan to build a crypto pile by buying BNB tokens. The chip maker dropped $50 million on BNB this week. It’s the first step toward what the company says could be a $1 billion treasury fund for digital coins. According to Nano Labs, it wants to hold between 5% and 10% of all BNB in the market. Nano Labs Stock Dips After Crypto Move Based on reports, Nano Labs shares slid 4.5% during regular trading and another 2% in after‑hours to close at $8.20 on Thursday. That dro...
Latest News
- Secret Service’s $400 Million Crypto Cache: A Decade Of Digital Hunts2025-07-06 15:21:36
- Bitcoin Liquidity Map Identifies $107K And $110,500 As Critical Short-Term Targets – Details2025-07-06 12:35:49
- Bitcoin Binary CDD Confirms Long-Term Confidence: Strong HODLer Conviction2025-07-06 11:25:14
- XRP Eyes $2.60 As Price Action Teases Breakout Above Critical Resistance2025-07-06 10:47:15
- Bitcoin Outflow Ratio Mirrors 2023 Accumulation – Long-Term Bullish Signal?2025-07-06 08:17:05