On June 24, 2025, Nano Labs announced a plan to build a BNB reserve worth $1 billion. The China-based company signed a $500 million convertible notes deal to start the process. These notes do not earn interest and mature in 360 days. Investors can convert them into Class A shares at a fixed price of $20 per share.
Funds from the notes will be used to purchase Binance Coin (BNB). The company aims to hold 5% to 10% of BNB’s total circulating supply. This target, if met, would make Nano Labs one of the largest institutional holders of the token.
In a public statement, the company said,
“Nano Labs will conduct a thorough assessment of the security and value of BNB… The Company plans to acquire US$1 billion worth of BNB via convertible notes and private placements.”
This action marks a shift in Nano Labs’ treasury strategy. Previously, the company held reserves only in Bitcoin. Now, it is expanding to BNB, using private funding to do so.
Nano Labs Targets 10% of BNB’s Circulating Supply
The BNB acquisition plan will rely on proceeds from the convertible notes. These notes allow holders to either redeem their value or convert them into stock. No public investor names were disclosed. The firm also did not set a specific timeline for the full BNB reserve build-up.
According to the announcement, Nano Labs will conduct private placements and evaluate BNB’s technical strength, security, and market behavior before finalizing larger purchases. This staged approach enables a gradual entry into the BNB market.
The company said it may acquire the full $1 billion in BNB depending on market conditions and internal evaluations. If Nano Labs reaches its target, it would hold between 5% and 10% of all circulating BNB.
Changpeng Zhao Reaffirms BNB’s Independence
Following the news, Changpeng Zhao (CZ), founder of Binance, addressed BNB’s status. On X, he posted:
“BNB is a public blockchain native coin, not ‘linked’ to Binance Holdings Ltd or Binance CEX.”
He added that multiple companies are acquiring BNB and none are linked to him or Binance. He stated,
“I heard about a few different companies doing this. So far, none are driven by me/us. But we are extremely supportive.”
These statements clarify that BNB is independent from Binance Holdings and can be freely purchased by any institution. Nano Labs’ BNB reserve plan operates entirely outside Binance’s corporate structure.
This separation is important to institutions seeking direct exposure to blockchain assets without connection to crypto exchanges.
BNB Reserve Plan May Affect Circulating Supply
If Nano Labs accumulates its planned BNB reserve, it could reduce available BNB supply on the market. Such a move may influence liquidity, depending on how much of the token is removed from active circulation.
The company confirmed that it would use convertible notes and private placements for the acquisition. No timeline was provided, but the reserve target remains between 5% and 10% of BNB’s total supply.
The firm has not shared details on which wallets will hold the BNB or how often it will report holdings. However, analysts may watch on-chain data to track potential wallet movements linked to Nano Labs.
The company also did not indicate whether its BNB acquisition would happen on open markets or through negotiated off-market deals.
Institutional Entry Without Binance Involvement
The BNB reserve strategy from Nano Labs follows a structure that separates it from Binance’s operations. The notes are private, carry no interest, and offer conversion into equity. This structure aligns with conventional finance tools while focusing on crypto asset exposure.
By targeting BNB, Nano Labs shifts from a Bitcoin-only reserve to a multi-asset model. The company also appears to be the first public firm to aim for direct control over up to 10% of a public blockchain token.
No details were provided on whether Nano Labs would announce future purchases or disclose its reserve wallet addresses. There was also no comment on custody providers or asset security.
Still, the public announcement confirms that Nano Labs is actively entering the BNB ecosystem through private funding and note conversion, without Binance’s involvement.
BNB Forms Falling Wedge Pattern, Possible 18% Price Rise Ahead
On June 24, 2025, Binance Coin (BNB) formed a falling wedge pattern on the daily chart against Tether (USDT), as seen on Binance. A falling wedge pattern is a bullish technical structure that forms when two downward-sloping trendlines converge, signaling a potential reversal to the upside.
The pattern appeared while BNB/USDT traded around $639.70, slightly below the 50-day Exponential Moving Average (EMA) of $644.37. Volume during this setup stood at 88,360 tokens.
If the price breaks above the upper resistance line of the wedge, it would confirm the bullish reversal. In that case, BNB may rise by approximately 18% from the current level. This move could bring the token up to the next key resistance near $755.83.
The previous wedge breakout in early May led to a strong rally. If this pattern plays out similarly, buyers could regain control and push the price closer to the recent high zone.
BNB RSI Shows Neutral Momentum With Low Buying Pressure
On June 24, 2025, the Relative Strength Index (RSI) for Binance Coin (BNB) stood at 46.03 on the daily chart, as published on TradingView. The RSI is a momentum indicator that measures the speed and change of price movements on a scale from 0 to 100.
This reading places BNB in a neutral zone, slightly below the midpoint of 50. Values between 30 and 70 generally signal consolidation, with no strong bullish or bearish momentum. However, the RSI recently bounced from near 30, a level often associated with oversold conditions, suggesting a potential shift.
The RSI signal line (14-day average), currently at 45.66, remains close to the actual RSI value. When the RSI rises above its moving average, it may indicate a build-up in momentum. For now, the two lines remain flat and close, reflecting weak directional strength.
Traders often watch for moves below 30 or above 70 to identify potential price reversals. Since BNB has not reached either extreme, the RSI suggests the market lacks strong conviction in either direction at this stage.
