Web3 firm Nano Labs, known for its significant BNB holdings, launched a share repurchase program worth $25 million, driving up its stock by 7%. Despite this surge, the company’s shares are down nearly 40% year-to-date. This contrasts sharply with Binance’s BNB token’s recent record-breaking high of $1,370. The move comes amid a decline in Nano Labs’ overall market capitalization to approximately $130 million after losing almost 37% this year. 💰 Analysts are questioning whether the company’s strategy to acquire and control BNB has backfired. However, Nano Labs is optimistic about the future of its investment and believes it will ultimately achieve a 5%-10% share of BNB’s total supply. 🤔 The company’s $25 million buyback program allows for flexibility in repurchase methods through open market transactions, negotiated deals, or block trades based on securities laws and insider trading regulations. 💼 🤝 📈