This Chinese Company is Buying a Lot of BNB, Aims to Own $1 Billion Worth
Main Idea
Nano Labs Ltd. has acquired 74,315 Binance Coin (BNB) as part of its corporate treasury, making it the first publicly traded company to hold BNB in its reserves, alongside its existing Bitcoin holdings.
Key Points
1. Nano Labs Ltd., a NASDAQ-listed Chinese company, purchased 74,315 BNB at an average price of $672.45 per coin.
2. The company also holds 1,000 BTC, ranking it 31st in corporate Bitcoin treasuries.
3. This acquisition makes Nano Labs the first publicly traded company to include BNB in its reserves.
4. The purchase was part of a $500 million convertible note deal, as previously reported by CryptoPotato.
5. Binance founder Changpeng Zhao (CZ) mentioned building regulatory frameworks for BTC and BNB in relation to this initiative.
Description
This acquisition from Nano Labs comes following their accumulation of Bitcoin, which is also part of their corporate treasury. According to the most recent data from BitcoinTreasures, the company has exactly 1,000 BTC stashed, ranking it 31st in the list of corporate treasuries holding the leading asset. A New Crypto Asset For Corporate Treasures Nano Labs Ltd., a Chinese company specializing in the production of mining chips and Web3 infrastructure, which is publicly traded on the NASDAQ, has s...
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