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Nano Labs Stock Dips After Crypto Move
Based on reports, Nano Labs shares slid 4.5% during regular trading and another 2% in after‑hours to close at $8.20 on Thursday.🚨 BREAKING 🚨 Nano Labs just acquired approximately $50M worth of via OTC — bringing our mainstream digital asset reserve to around $160M. 🔗 — Nano Labs (@NanoLabsLtd)
Funding Strategy Raises Questions
According to the company, its combined crypto wallet now holds about $160 million in BNB and Bitcoin. At today’s rate of around $658 per BNB, $50 million buys roughly 76 000 tokens.BNB Stake Holds Risks
itself climbed a modest 0.60% in the past 24 hours to hover near $654 as of press time. Its market cap stands at $93.4 billion.According to a June 2024 Forbes report, Binance and its former CEO, Changpeng “CZ” Zh💛ao, collectively control about 70% of the then‑circulating 147 million BNB tokens.
Image: Penn Today
Not A Guarantee For Win?
Anthony Scaramucci, who runs SkyBridge Capital, told Bloomberg that corporate crypto buys aren’t a sure win. He pointed out that if a firm takes $10 in funding and puts $8 into Bitcoin, shareholders might be better off just buying Bitcoin themselves. His view is that teams should lay out clear cost and profit maps before chasing big crypto stakes. Nano Labs was set up in 2019 by Sun Qifeng and Kong Jianping after they left the board of Canaan. The Singapore‑based hardware maker listed in 2022 and focuses on high‑speed computing chips. Their shift into crypto comes as more companies park part of their cash in digital coins. But market watchers will be looking to see if Nano Labs can juggle chip design, note sales and token buying without running into trouble.Featured image from Unsplash, chart from TradingView

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