<ul data-eligibleForWebStory="false"><li>Chinese tech firm has acquired $50 million in Binance Coin as part of a long-term strategy to potentially own 10% of the token's circulating supply, requiring nearly $1 billion.</li><li>The company, specializing in advanced computing chips and founded by former Canaan executives, already holds around $160 million in crypto assets split between BNB and Bitcoin.</li><li>Investor enthusiasm appears to be cooling as Nano Labs' acquisition caused shares to drop, raising doubts about the strategic value of tying up capital in digital assets.</li><li>BNB's market remained stable after the news, with Binance and its founder holding the majority of the token supply, sparking discussions on institutional interest and potential risks associated with investing in crypto via companies.</li></ul>

Chinese Tech Firm Snaps Up $50M in Binance Coin

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