| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107358.3700000000 |
| ETH | $2440.3350000000 |
| BNB | $649.9543600000 |
| XRP | $2.1864380000 |
| ADA | $0.5618665000 |
| SOL | $150.0442000000 |
| DOGE | $N/A |
| DOT | $3.4074800000 |
| LTC | $86.7900000000 |
| LINK | $13.4217200000 |
Category: CRYPTO NEWS
The post Nano Labs Commits $500 Million to BNB Treasury Via Private Placement appeared on BitcoinEthereumNews.com. Nano Labs is putting $500 million into BNB with convertible notes, aiming for major supply share. The stock jumped over 106% after the deal news, despite no collateral and uncertainty surrounding the finalization. Nano Labs, a China-based blockchain infrastructure company, has committed $500 million to purchase Binance’s BNB token through a private placement deal using convertible promissory notes. The agreement is part of a broader plan to expand its holdings in BNB to a significant share of the token’s total circulating supply. The company stated that its long-term target is to have control over 5% to 10% of the entire BNB supply. The purchase mechanism is through convertible notes bearing zero interest and with maturity to occur 360 days after the issue date. Convertible notes are redeemable against Class A ordinary Nano Labs shares within the maturity period. The conversion price has been set at $20 per share, but it may vary. In case of non-conversion until the maturity date, Nano Labs will have to repay the full principal amount. No collateral support for the notes is there, and Nano Labs signaled that the entire settlement of the transaction isn’t guaranteed. Wider Institutional Interest in BNB The announcement boosted Nano Lab stock by more than 106% within a day of trade. From the preceding day’s close of $10.90, the stock gained to $22.50 during the day. Former Binance CEO and co-founder Changpeng “CZ” Zhao made the announcement on social media, referencing the sharp rise in Nano Labs’ stock price. He also clarified that neither he nor any related entities were involved in the funding round, but said he continues to support Nano Labs. Nano Labs Ltd (Nasdaq: NA) becomes a $BNB-only strategic reserve public co, bringing $500 million to BNB. 👏 Their stock price went through the roof. We (my…
2025-06-25T03:42:06+00:00