Nano Labs Bets Big: $50M BNB Investment Signals $1B Treasury Ambitions

Nano Labs just threw $50 million into BNB—and they're not stopping there. The crypto R&D firm's gunning for a ten-figure treasury, proving once again that in blockchain, 'go big or go home' isn't just a mantra—it's a business plan.

Why BNB? Because when you're playing with house money (read: investor funds), why not double down on the exchange token that's eating Ethereum's lunch? The move screams confidence—or desperation, depending on which crypto Twitter troll you ask.

One hedge fund manager quipped: 'At least they didn't buy JPEGs this time.' Ouch.

Nano Labs, a leading Web 3.0 infrastructure provider in China, recently made a bold move in the crypto space. It has acquired 74,315 Binance Coin (BNB) tokens through an OTC transaction valued at approximately $50 million.

Nano Labs Bets Big on BNB

This marks the first step in the company’s strategic BNB accumulation plan. Its long term goal is to hold 5% to 10% of BNB’s total circulating supply and it plans to allocate up to $1 billion to BNB. To support this goal, it plans to raise up to $500 million through convertible notes and private placement. 

With this purchase, Nano Labs’ reserves of major digital assets, including Bitcoin and BNB, now stand at around $160 million. It has also become the first U.S.-listed public company to adopt Binance Coin as a core treasury asset. This sets it apart from the typical corporate trend of holding Bitcoin or Ethereum. 

Notably, Nano Labs’ $50 million BNB purchase appears to be more than just a treasury move, it’s a shift away from its struggling hardware business. In the second half of 2024, the company’s revenue dropped 39% to $2.2 million, with losses totaling $8.4 million. With deep cost-cutting measures and R&D spending down 62%, the pivot to crypto looks more like a survival strategy than a bold expansion.

BNB Gains Traction with Institutions

Apart from Nano Labs, a group of former hedge fund executives also announced plans to raise $100 million to buy BNB through a Nasdaq-listed shell company. This shows rising institutional interest in the token. The rise of BNB as a treasury asset comes as more companies adopt altcoin-focused treasury strategies, echoing MicroStrategy’s bitcoin strategy.

BNB Hints at Breakout 

Also, the rise in institutional interest has also boosted BNB’s social dominance, which is now at a two-month high. If the momentum continues, BNB’s price could rally and could break towards a new all-time high. 

BNB token is currently trading at $659.20. BNB is nearing a breakout as it trades within a symmetrical triangle pattern. Its overall technical indicators also lean bullish. The price is holding above key averages, and there is a potential for further gains if buying pressure continues.