Nasdaq Listed Nano Labs LTD makes a huge gamble on Binance Coin (BNB) and has unveiled plans to acquire token through convertible notes and private placements.
According to a press edition Dated 24 June, Nano Labs, which is based in China, has Infrastructure provider Nano Labs established in China.
To finance the plan, the company has concluded a convertible note agreement of $ 500 million with investors. The zero notes of zero, which mature in 360 days, are convertible in the class A shares of Nano Labs at an initial price of $ 20 per share.
As part of the reserve strategy, Nano Labs will perform a complete evaluation of the value and technical resilience of BNB before continuing with the initial phase of the acquisition. The company also stated that the goal is to accumulate between 5% and 10% of the total circulating range of BNB in the long term.
Nano Labs’s newest move builds on its earlier crypto ambitions, signaled for the first time in December 2024 when the company announced that it would start with accepting Bitcoin payments for his services. At the time there was no indications that it was planning to keep BTC on its balance, and the newest BNB initiative marks a brutal step in the digital assets space for the company.
If advanced, the accumulation of billion dollars from Nano Labs would make one of the largest known BNB holders, outside of Binance itself.
The last announcement comes when BNB is interested in institutions. Only a day earlier, Bloomberg reported a similar initiative of former Coral Capital Holdings -Executives Patrick Horsman, Joshua Kruger and Johnathan Pasch, to pick up $ 100 million for the takeover of the Binance token for company use. The trio is said to increase the capital via a Nasdaq-listed entity and aims to legitimize BNB on public markets.
At the time of the press, BNB acts at $ 637.34. The Binance Munt has remained considerably with its colleagues in recent months and wins from only 12% to the present and a decrease of around 20% compared to his all time.
