<\/p>\n
Nano Labs has increased its BNB treasury reserve holdings to a stash worth $90 million, with a significant purchase coming amid the cryptocurrency market\u2019s latest uptick.<\/p>\n
Nano Labs, which trades on the Nasdaq under the ticker NA and offers web3 infrastructure solutions, is accumulating Binance Coin (BNB). The move comes as more publicly-traded companies adopt cryptocurrency strategic reserves amid huge institutional interest.\u00a0<\/p>\n
Nano Labs announced its plans to establish a strategic reserve with the Binance Coin in June. In a press release on Tuesday, it said it had acquired an additional 45,684.9862 BNB worth $34.8 million. This brings its total holdings to 120,000 BNB, now worth approximately $90 million.<\/p>\n
Nano Labs stated that it acquired the latest batch of tokens through over-the-counter transactions, with BNB purchased at an average price of $764 per token. Overall, the firm\u2019s BNB acquisition has come at the average purchase price of $707 per token.<\/p>\n
<\/p>\n
Nano Labs revealed in June that it had entered into a $500 million convertible notes agreement to purchase BNB and launch a strategic reserve. The company also noted it planned to acquire $1 billion worth of BNB in an initial outlay. However, the long-term goal is to hold between 5% to 10% of the native Binance ecosystem token\u2019s circulating supply.<\/p>\n
In its latest update, Nano Labs announced it will add to its BNB holdings via various strategies, including continued accumulation of BNB, investment in BNB-focused firms, and acquisition of BNB companies.<\/p>\n
Recently, Nasdaq-listed Windtree Therapeutics announced its plans to purchase up to $200 million in BNB, initially commencing the project with a $60 million BNB acquisition. Windtree has agreed to a securities purchase deal for the BNB treasury, backed by Build and Build Corp.<\/p>\n
Earlier this month, crypto venture capital firm YZi Labs backed 10X Capital\u2019s push for a new BNB treasury company. Binance co-founder and former Chief Executive Officer Changpeng Zhao has shown his support by sharing a positive outlook on such moves.<\/p>\n
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Nano Labs has increased its BNB treasury reserve holdings to a stash worth $90 million, with a significant purchase coming amid the cryptocurrency market\u2019s latest uptick. Nano Labs, which trades…<\/p>\n","protected":false},"author":1,"featured_media":3789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5466"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5466\/revisions"}],"predecessor-version":[{"id":5467,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5466\/revisions\/5467"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3789"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}