Chinese company plans to launch $1 billion cryptocurrency financial plan Chinese listed company Nano Labs announced plans to invest $1 billion to purchase BNB (Binance Coin), with the goal of holding 5% -10% of its circulation (approximately $4.7 billion - $9.4 billion). The first phase will be financed through the issuance of $500 million convertible bonds, which can be converted into Class A shares at a rate of $20 per share after 360 days. After the announcement, Nano Labs' stock price surged 64.8%, closing at $14.85 from $10.89. BNB is a native token of Binance exchange with a market value of approximately $93.9 billion, ranking fifth globally. Nano Labs' choice of BNB reflects the institution's confidence in the Binance ecosystem, and other institutions are also planning to invest in BNB in the near future, such as VanEck applying for a BNB ETF. Binance founder Zhao Changpeng publicly supports this move. But this plan carries high risks, including BNB price volatility, regulatory uncertainty, and bond conversion pressure. The institutional investment boom similar to Bitcoin may trigger market selling risks. Nano Labs' actions highlight the institution's interest in non Bitcoin encrypted assets, but caution should be exercised.