Nano Labs, a Nasdaq-listed Chinese Web3 infrastructure and product solution company, has entered into a $500 million convertible note agreement to fund the accumulation of Binance's BNB token as part of its corporate treasury strategy. The company aims to acquire up to $1 billion worth of BNB, targeting approximately 5–10% of the total supply. This move has drawn comparisons to MicroStrategy's Bitcoin strategy, signaling growing institutional interest in crypto-native assets. Following the announcement, Nano Labs' stock price surged significantly, with pre-market gains reaching nearly 198% before settling at a 36% increase by market close. Binance CEO Changpeng Zhao acknowledged the development, noting that his affiliated entities did not participate in the convertible note round but expressed support. The initiative reflects a strategic effort to strengthen Nano Labs' position within the Binance ecosystem and highlights a potential turning point for BNB's market narrative.