In a bold move that’s turning heads in the crypto world, Nano Labs, a Chinese blockchain tech firm, has announced it will raise $500 million through convertible notes. The funds will be used to buy up a hefty stash of BNB tokens, Binance’s native cryptocurrency. The plan? To eventually hold between 5% and 10% of all BNB in circulation—a slice of the pie that would put Nano Labs on the map as a major player in crypto reserves.
Image 1 (Source: X)
The company’s not just testing the waters—it’s jumping in with both feet, showing it’s all in for the long haul.
Borrow Now, Share Later
This isn’t your run-of-the-mill loan. These are convertible promissory notes — a mouthful, but here’s what it means in simple terms: investors cough up the money now, and in return, they’ll either get it back in a year or flip it into company shares if the conditions suit them.
The notes come with no interest attached, making them a sweeter deal for Nano Labs. Investors can convert all or part of their investment into Class A ordinary shares within 360 days. The starting price to swap debt for shares is US$20 per share, though that tag may shift depending on market movement.
In short, it’s a “pay later, own sooner” kind of deal — one where both sides hope to come out smelling like roses.
Building a Crypto War Chest
Nano Labs isn’t keeping quiet about what the money’s for. The bulk of it is earmarked for purchasing BNB tokens, and they’re not beating around the bush — they want to collect up to $1 billion worth, combining this note deal with private investments.
The endgame? To sit on 5–10% of BNB’s total supply, giving them a seat at the table when it comes to future market influence.
This strategy signals a shift. Nano Labs isn’t just tinkering with infrastructure or chips anymore—they’re looking to sink their teeth into long-term token holdings, joining other institutions making a beeline for digital assets.
Image 2 (Source: The Cryptonomist)
A Rising Tide in BNB’s Favour
BNB has been enjoying its day in the sun. Over the past few months, bigwigs in finance have taken a shine to the token. Reports suggest hedge fund managers have been passing the hat around to gather $100 million to invest in BNB.
Adding fuel to the fire, global asset manager VanEck has thrown its hat in the ring, knocking on the door of U.S. regulators. The firm is seeking the all-clear to roll out a spot BNB ETF—a bold step that could pave the way for BNB to step into the limelight of tightly governed markets.
Announcement#NanoLabs has entered into a $500M convertible notes purchase agreement to launch our $BNB Strategic Reserve. $NA
https://t.co/bj4nbzDUrq pic.twitter.com/i3ezU3MrcV
— Nano Labs (@NanoLabsLtd) June 24, 2025
So, while the crypto market has had its ups and downs, BNB appears to be riding the crest of a wave—and Nano Labs is paddling fast to catch it.
Support from Binance’s Corner
While not directly involved in the deal, Changpeng Zhao (CZ), Binance’s co-founder and former chief, didn’t let the news fly under the radar. After the announcement, he drew attention to it on social media, pointing out the market’s warm reaction to Nano Labs’ new direction.
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Even though he and associated entities stayed out of this particular funding round, the company noted they’re still solid supporters of Nano Labs’ initiative. That sort of public backing, especially from someone of CZ’s calibre, helps lend weight to the effort, even if he’s not putting his money where his mouth is this time.
