Nano Labs Boosts BNB Stash to a Cool $90 Million Amid Crypto Surge!

Nano Labs, the Nasdaq-traded beast under the ticker NA, just cranked up its BNB treasury reserve to a whopping $90 million. They made a massive move buying more BNB right in the middle of the latest crypto market frenzy!

These web3 infrastructure gurus are all in on Binance Coin (BNB), joining the ranks of publicly-traded companies diving into the crypto reserve game as institutional interest hits the roof.

Back in June, Nano Labs spilled the beans about setting up a strategic reserve with BNB. Then, boom! On Tuesday, they dropped a press release saying they nabbed another 45,684.9862 BNB, worth a hefty $34.8 million. That brings their total BNB hoard to 120,000, now valued at around $90 million.

How'd they do it? Over-the-counter deals, baby. They snagged the latest batch at an average of $764 per token. Overall, their BNB shopping spree averaged out at $707 per token.

More Companies Jumping on the BNB Treasury Bandwagon

Remember in June when Nano Labs signed a $500 million convertible notes deal to go big on BNB and kickstart their strategic reserve? They even threw down plans to grab $1 billion worth of BNB right off the bat. But their eyes are on the prize - aiming to hold between 5% to 10% of the total BNB circulating supply in the long run.

In their latest update, Nano Labs is all set to keep stacking BNB, investing in BNB-focused firms, and snatching up BNB companies. They're not messing around!

And guess what? Nasdaq-listed Windtree Therapeutics is also getting in on the action, planning to buy up to $200 million in BNB, starting with a $60 million BNB acquisition. They've got a securities purchase deal lined up with Build and Build Corp.

Just this month, crypto venture capital firm YZi Labs backed 10X Capital's move to launch a new BNB treasury company. And who else but Binance co-founder and former CEO Changpeng Zhao chimed in with his thumbs-up on these bold moves.