8 hours ago
Nano Labs (NA), a Nasdaq-listed chipmaker, snapped up astir $50 cardinal worthy of Binance’s BNB (BNB) token arsenic it works toward a extremity of owning as overmuch arsenic 10% of the full supply.
The Hong Kong-based institution said it bought 74,315 BNB successful an over-the-counter woody astatine an mean terms adjacent $672.45, lifting its full integer plus reserves, including bitcoin (BTC), to astir $160 million.
The acquisition marks the archetypal large measurement successful Nano Labs’ program to allocate arsenic overmuch arsenic $1 cardinal to BNB, funded partially done $500 cardinal successful convertible notes.
Nano Labs’ shares fell 4.7% connected Thursday, and slipped different 2.15% aft hours to $8.20.
The institution isn’t unsocial successful looking to accumulate BNB arsenic a treasury reserve asset. A radical of erstwhile hedge-fund executives precocious past period revealed plans to raise $100 cardinal to bargain the cryptocurrency done a Nasdaq-listed ammunition company.
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