BNB Emerges as Wall Street’s Latest Crypto Darling as Nano Labs Unveils $1 Billion Investment Plan
A new cryptocurrency appears to be capturing the attention of publicly traded companies eager to boost their valuations—this time, it’s not Bitcoin or Ethereum, but Binance’s BNB.
On Tuesday, China-based blockchain infrastructure firm Nano Labs announced its intention to purchase up to $1 billion worth of BNB tokens in the near term, signaling a bold move to significantly diversify its corporate treasury. The company ultimately aims to amass between 5% and 10% of BNB’s total circulating supply, a stake currently valued between $4.7 billion and $9.4 billion.
News of the investment sent Nano Labs’ stock into a frenzy shortly after markets opened. Shares skyrocketed from $10.89 to a peak of $29.18 within minutes, before closing at $14.85—still marking an impressive 64.8% gain for the day.
For the initial phase of the investment, Nano Labs plans to allocate $500 million toward BNB acquisitions. The funding will come from the issuance of convertible promissory notes, which several investors have already agreed to purchase. These notes will be convertible into Nano Labs Class A shares after 360 days, with an initial conversion price set at $20 per share.
In recent years, an increasing number of publicly traded companies have begun funneling billions into Bitcoin treasuries, hoping to capitalize on the asset’s rapid appreciation as a means of bolstering balance sheets. But while Bitcoin’s meteoric rise has offered lucrative short-term gains, some market analysts have raised concerns about the potential risks associated with such highly leveraged strategies—particularly if Bitcoin’s price were to suffer significant corrections, potentially triggering widespread sell-offs and cascading market instability.
Now, the momentum appears to be shifting toward alternative digital assets. In addition to Bitcoin, companies have started exploring treasury holdings in cryptocurrencies like Solana, XRP, and Ethereum. With Nano Labs’ aggressive BNB acquisition plan, Binance’s native token has now entered the spotlight.
BNB serves as the backbone of Binance, the world’s largest centralized cryptocurrency exchange. It facilitates transactions on the platform and currently ranks as the fifth-largest cryptocurrency globally, with a market capitalization hovering around $93.9 billion.
Interest in BNB among institutional investors may be accelerating. Bloomberg reported on Monday that a separate consortium of crypto hedge fund managers is preparing to raise $100 million to acquire a significant position in BNB.
When asked by Decrypt why Nano Labs chose BNB over other major cryptocurrencies for its ambitious treasury strategy, company representatives declined to comment. They also did not address whether the purchase was coordinated in any way with Binance.
Binance’s founder, Changpeng Zhao—who stepped down as CEO in 2023 after pleading guilty to criminal money laundering charges—appeared to welcome Nano Labs’ move. Celebrating the news on Tuesday, Zhao highlighted the swift impact on Nano Labs’ stock price, stating: “Their stock price went through the roof. Not financial advice!”
As traditional finance continues to experiment with large-scale crypto holdings, BNB’s emergence as a potential treasury asset suggests that the appetite for crypto-fueled corporate growth remains strong—and is expanding beyond Bitcoin.
