$500 Million Giant Program Announced!

While the treasury strategy has been adopted for cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and XRP, Binance Coin (BNB) has recently joined this craze.

Accordingly, Nano Labs, a Nasdaq-listed cryptocurrency mining chip design company, has included BNB as part of its treasury strategy.

According to the official statement, Chinese company Nano Labs signed a $500 million convertible bond agreement for the purchase of BNB.

The company plans to evaluate the security and value of BNB and purchase up to $1 billion worth of BNB, targeting 5-10% of its total circulating supply in the long term.

CZ also congratulated Nano Labs’ BNB move, posting the following:

“Nano Labs Ltd announced its BNB move and the private strategic reserve is becoming a public company. Bringing $500 million to BNB.

The stock price has skyrocketed. We (my affiliates) did not participate in this round, but we remain extremely supportive.

This is not financial advice!”

*This is not investment advice.