Chinese chipmaker Nano Labs has begun quietly building a massive crypto treasury, starting with a $50 million purchase of BNB.
The move is part of a long-term play that could see the company own up to 10% of the token’s entire circulating supply—an effort that may require close to $1 billion in total.
The company, known for designing advanced computing chips and founded by two former Canaan executives, has already amassed around $160 million in crypto assets, split between BNB and Bitcoin. While their crypto reserves are growing, investor enthusiasm appears to be cooling. Shares of Nano Labs slipped nearly 7% following the latest BNB acquisition, suggesting some doubt over the strategic value of locking up capital in digital assets.
BNB itself held steady, barely moving after the announcement, with a market still dominated by Binance and its founder, who reportedly control the vast majority of the token supply.
Though some see institutional interest in BNB as a sign of market maturity, not everyone is convinced. Critics like SkyBridge Capital’s Anthony Scaramucci warn that companies using investor capital to hoard crypto may face tough questions—particularly when individuals could simply buy the assets directly.
Nano Labs’ ambitious plan could take time to unfold, and whether it pays off will depend not just on BNB’s price, but on how investors perceive value in holding crypto through a middleman.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/chinese-tech-firm-snaps-up-50m-in-binance-coin/