Nano Labs Bets Big on BNB: A Crypto Rollercoaster 🚀💰

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So, Nano Labs, the chip wizards, have decided to get their hands dirty in the crypto sandbox by scooping up a hefty pile of BNB tokens. They’ve already dropped a cool $50 million on BNB this week, and they’re just getting started. The plan? To build a $1 billion digital treasure chest, holding between 5% and 10% of all BNB in the market. 🤑

Nano Labs Stock Takes a Dive After Crypto Splash

But here’s the kicker: despite their big crypto move, Nano Labs’ stock took a nosedive, sliding 4.5% during regular trading and another 2% in after-hours, closing at $8.20 on Thursday. 📉

What’s the deal? Well, the stock had a major rally when they announced a plan to sell $500 million in convertible notes to fund their crypto buys. The stock soared over 100% after that news, but this week’s token purchase didn’t quite have the same magic. 🧙‍♂️

BREAKING

Nano Labs just acquired approximately $50M worth of $BNB via OTC — bringing our mainstream digital asset reserve to around $160M.

— Nano Labs (@NanoLabsLtd) July 3, 2025

Funding Strategy Raises Eyebrows

Now, their crypto wallet is bulging with about $160 million in BNB and Bitcoin. At today’s rate of around $658 per BNB, $50 million buys roughly 76,000 tokens. To snag 10% of the 145,887,575 coins currently floating around, they’d need about $926 million. 🤔

Investors are scratching their heads, trying to figure out if issuing convertible notes is the best way to go, or if they should just buy the crypto directly. It’s like choosing between a fancy cocktail or a straight shot of tequila. 🍸

BNB itself climbed a modest 0.60% in the past 24 hours, hovering near $654 as of press time. Its market cap stands at a whopping $93.4 billion. According to a June 2024 Forbes report, Binance and its former CEO, Changpeng “CZ” Zhao, collectively control about 70% of the then-circulating 147 million BNB tokens. 🤴

Not a Guaranteed Win?

Anthony Scaramucci, the brain behind SkyBridge Capital, told Bloomberg that corporate crypto buys aren’t a surefire win. He pointed out that if a company takes $10 in funding and plows $8 into Bitcoin, shareholders might be better off just buying Bitcoin themselves. His advice? Lay out a clear cost and profit map before diving headfirst into the crypto pool. 🏊‍♂️

Nano Labs was founded in 2019 by Sun Qifeng and Kong Jianping after they left the board of Canaan. The Singapore-based hardware maker listed in 2022 and focuses on high-speed computing chips. Their shift into crypto comes as more companies are parking part of their cash in digital coins. But market watchers will be keeping a close eye to see if Nano Labs can juggle chip design, note sales, and token buying without dropping any balls. 🎱

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2025-07-05 23:44