25.06.2025 03:42

Nano Labs, a Chinese blockchain infrastructure firm, has made a significant investment in Binance's BNB token. The company committed a staggering $500 million to acquire BNB through a private placement, utilizing convertible promissory notes as the payment mechanism. This bold move reflects Nano Labs' ambitious strategy to secure a substantial portion of the circulating BNB supply – aiming for a 5% to 10% stake.

These convertible notes, issued with a zero-interest rate and a 360-day maturity, offer Nano Labs flexibility. They can be redeemed for Class A ordinary Nano Labs shares at a conversion price of $20 per share (subject to potential adjustment), or repaid in full if unconverted by the maturity date. Crucially, however, these notes lack collateral, and the complete transaction's finalization remains uncertain. This lack of collateral adds a layer of risk to the investment.

News of the deal sent ripples through the market, causing Nano Labs' stock price to soar. A remarkable 106% increase was witnessed within a single trading day, catapulting the share price from $10.90 to $22.50. Binance's CEO, Changpeng Zhao, confirmed the investment via social media, highlighting the dramatic stock price surge while clarifying that neither he nor any affiliated entities participated in the funding round. Despite this, he expressed continued support for Nano Labs.

Nano Labs' substantial investment effectively transforms the company into a publicly traded entity with a BNB-only strategic reserve. This audacious move, while potentially lucrative, carries significant risk given the lack of collateral and the absence of guaranteed settlement, showcasing the high-stakes nature of the cryptocurrency investment landscape. The situation underscores the growing institutional interest in BNB and the volatility inherent in such high-impact market events.