Binance-Affiliated WazirX Gains Extended Singapore Court Moratorium Amid Restructuring Challenges

WazirX, the cryptocurrency exchange once associated with Binance, has been granted an extended moratorium by the Singapore Court, providing the platform with additional time to argue its case for a proposed restructuring plan. The court's decision extends the deadline beyond June 6, 2025, offering WazirX temporary legal protection as it navigates unresolved objections from key investor Zettai Pte. Ltd. This development leaves users and stakeholders in a state of continued uncertainty regarding the exchange's future. WazirX had previously indicated efforts to stabilize operations, but the prolonged legal process underscores the complexities of its restructuring efforts. The extension highlights the challenges faced by crypto exchanges in regulatory and financial overhauls, particularly in jurisdictions like Singapore with stringent compliance standards. As the situation evolves, the crypto community watches closely for potential impacts on Binance's ecosystem and broader market sentiment.

Singapore Court Extends WazirX Moratorium Amid Restructuring Delays

WazirX has secured an extended moratorium from the Singapore Court, allowing additional time to present arguments for its proposed restructuring plan. The court's decision pushes the deadline beyond June 6, 2025, offering temporary legal protection while objections from key investor Zettai Pte. Ltd. remain unresolved.

Users awaiting clarity on the exchange's future face continued uncertainty. WazirX had previously indicated a 14-day decision timeline, but no resolution emerged by the expected June 20 deadline. The extension marks another chapter in the prolonged restructuring process that has left traders in limbo.

Binance CEO Richard Teng Outlines Strategy to Bridge TradFi and Crypto

Binance CEO Richard Teng is positioning the exchange as the premier gateway for traditional finance (TradFi) institutions entering the crypto space. With deep liquidity, corporate-grade tools, and competitive fees, Binance aims to meet the exacting standards of TradFi players.

The platform's emphasis on security and regulatory compliance reflects a maturation of the crypto industry. Same-day settlements and an intuitive interface further align with institutional expectations, signaling crypto's readiness for mainstream adoption.

Nano Labs Secures $500M for BNB Treasury Expansion Through Convertible Notes

Nano Labs Ltd, a Nasdaq-listed Web 3.0 infrastructure firm, has finalized a $500 million private placement of convertible promissory notes. The move signals a strategic pivot toward establishing a Binance Coin (BNB)-denominated treasury, reinforcing its position in the crypto ecosystem.

The zero-coupon notes, convertible into Class A shares at $20 apiece, mature in 360 days. While the deal remains subject to closing conditions, Nano Labs' stock surged following the announcement. Binance CEO CZ publicly endorsed the initiative, though his affiliated entities abstained from participation.

Nano Labs Stock Surges 165% on $1B Binance Coin Reserve Strategy

Nano Labs (NA) shares skyrocketed 164.5% Tuesday following its audacious plan to accumulate $1 billion worth of Binance Coin (BNB), targeting 5-10% of the cryptocurrency's circulating supply. The fabless chip designer simultaneously unveiled a $500 million convertible notes offering at $20 per note, with proceeds earmarked for its BNB acquisition.

The parabolic MOVE extends NA's year-to-date gain to 21.7% and 12-month return to 149.4%, though TipRanks' AI analyst Spark maintains a Neutral rating with $12.50 price target. The algorithm cites persistent financial headwinds despite favorable technicals and strategic positioning.

Nano Labs Aims to Control 10% of BNB Supply with $500M Convertible Notes Strategy

Nano Labs Ltd, a China-based Web3 infrastructure firm, has unveiled an ambitious plan to accumulate up to $1 billion worth of BNB. The company signed a $500 million convertible notes agreement with subscribing parties, marking the first major BNB treasury strategy by a publicly-traded entity.

The unsecured notes mature in 360 days without interest and are convertible into Class A ordinary shares at $20 per share. This strategic move positions Nano Labs to potentially control 10% of BNB's circulating supply, signaling strong institutional confidence in the asset.

The convertible structure provides flexibility—Nano Labs can either convert debt to equity or repay principal at maturity. Market observers view this as a bullish development for BNB, reflecting growing institutional adoption of major crypto assets beyond Bitcoin and Ethereum.

Nasdaq-Listed Nano Labs Plans $1B BNB Acquisition in Bold Treasury Strategy

Nano Labs, a Nasdaq-listed Web3 firm, is making waves with its audacious plan to acquire up to $1 billion worth of Binance Coin (BNB). The China-based company has already secured a $500 million convertible note agreement to initiate the accumulation, signaling a strategic shift toward crypto treasury diversification beyond Bitcoin.

The zero-interest notes, convertible into Nano Labs’ Class A shares at $20 each within 360 days, blend traditional finance with crypto-native strategies. This move coincides with former Coral Capital executives raising $100 million for institutional BNB purchases—a clear indicator of growing institutional interest in the once-overlooked asset.

BNB’s potential classification as a security remains a critical consideration for Nano Labs. The planned acquisition could position the company as a major holder of nearly 10% of BNB’s circulating supply, potentially reshaping market dynamics for the exchange-linked token.