In a major move, Nasdaq-listed Nano Labs Ltd (NA) has unveiled a $500 million convertible notes agreement to establish a Binance Coin (BNB) strategic reserve, with plans to accumulate up to $1 billion in BNB assets.
Unveiled on June 24, 2025, this bold initiative by Nano Labs has sparked major momentum in the crypto market, propelling the company’s stock by 106%—from $10.90 to $22.50—as investors rally behind its intent to hold between 5% and 10% of BNB’s circulating supply.
The approach closely resembles MicroStrategy’s trailblazing Bitcoin treasury model, which amassed more than 592,345 BTC by early 2025, highlighting a rising shift among corporations toward adopting cryptocurrencies as reserve assets. According to a Nasdaq announcement, Nano Labs aims to utilize the raised funds to construct a sizable BNB treasury, strategically positioning itself as a key force within the blockchain space.
The issued convertible notes, which mature in 360 days, carry no interest and can be converted into Class A shares at a fixed price of $20, offering flexibility for investors while backing this aggressive accumulation plan.
Changpeng Zhao (CZ), co-founder of Binance, acknowledged the development in a post on X, clarifying that while his related entities were not involved, they fully support the initiative. His cautious optimism suggests a reasonable development for BNB’s valuation as Binance continues to navigate regulatory scrutiny, including a $4.3 billion payment in 2023.
Market analysts regard this as a critical inflection point for institutional involvement in crypto, potentially reshaping BNB’s liquidity and overall market structure.
The announcement has ignited a wave of bullish sentiment, with traders and crypto supporters closely watching BNB’s trajectory toward possible new all-time highs. Still, uncertainty remains due to ongoing regulatory pressure and the unpredictable nature of the market. As Nano Labs initiates its gradual acquisition plan, the broader crypto space is observing with interest, evaluating the potential impact on BNB’s future and the role of institutional players in the blockchain sector.
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