Chinese company Nano Labs Ltd has executed a significant deal, acquiring 74,315 Binance Coin (BNB) tokens through a private transaction amounting to approximately $50 million.
Acquisition of BNB Tokens
Nano Labs purchased 74,315 BNB tokens via an OTC transaction, indicating a private exchange rather than public trading. The average price paid per token was $672.45.
Strategy for Increasing Reserves
With this acquisition, the company's total cryptocurrency reserves have reached approximately $160 million, including both Bitcoin and BNB. Nano Labs plans to acquire up to $1 billion in BNB through convertible notes and private transactions, aiming to become a major holder of the cryptocurrency.
Information about Nano Labs
Nano Labs is a Chinese technology firm focused on developing Web 3.0 solutions. They manufacture high-speed computing chips, such as their proprietary "Cuckoo" series, competing with conventional GPUs.
The Nano Labs deal to acquire BNB highlights their long-term strategy to expand cryptocurrency reserves, potentially strengthening their position in the market.
