Chinese firm completes first buy in effort to stockpile 10% of BNB

SkyBridge Capital’s Anthony Scaramucci has doubts crypto treasuries have legs in the long run, arguing investors will start buying crypto instead of investing in companies that hold it.

Update (July 4 at 7 am UTC): This article has been updated to add a comment from a BNB Chain spokesperson.

Chinese microchip firm Nano Labs has officially kicked off its plan to hold up to 10% of the total circulating supply of BNB, with its first purchase of $50 million of the asset. 

Nano Labs reiterated on Thursday that its long-term goal is to purchase up to $1 billion worth of BNB (BNB) and hold between 5% and 10% of the total circulating supply.

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