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Next Technology Holding authorizes sale or loan of $450 million in bitcoin

Nasdaq-listed Next Technology Holding has authorized the sale or pledging of its approximately 5,833 bitcoin, worth around $450 million, citing quantum computing risks and a recent security incident at Binance.

Graphic showing the logo of Next Technology Holding on the left and the Bitcoin logo on the right, above a news ticker banner.
Image: @crypto_banter

Nasdaq-listed Next Technology Holding has authorized board approval to sell or take loans against its treasury of approximately 5,833 bitcoin, valued at around $450 million, according to reports by CoinDesk and Crypto Banter.[2][3]

The company cited exchange security vulnerabilities, a recent Binance security incident, and risks posed by quantum computing as key motivations behind the decision. Next Technology Holding clarified that none of its bitcoin holdings are stored on or managed through Binance.[2][3]

There is no guarantee that any transactions will take place, with the company noting that timing, amounts, and completion remain uncertain. Crypto Briefing reported that the potential sale underscores concerns surrounding crypto trust and may trigger broader scrutiny of digital asset security practices across the industry.[1][2]

Key facts

  • Next Technology Holding's board authorized the sale or pledging of its roughly 5,833 bitcoin holdings, valued at approximately $450 million.
  • The authorization was prompted by exchange security vulnerabilities, a recent Binance security incident, and quantum computing risks.
  • Next Technology Holding confirmed that none of its bitcoin is held on or through Binance.
  • The company stated there is no assurance regarding the timing, size, or completion of any bitcoin sales.

Sources 路 3 sources

  1. CB

    Crypto BriefingArticle 路

    Next Technology Holding may sell $450M in Bitcoin after Binance hack NXTT's potential Bitcoin sale highlights the fragility of crypto trust and could prompt broader scrutiny of digital asset security practices. The post Next Technology Holding may sell $450M in Bitcoin after Binance hack appeared first on Crypto Briefing .

    Open source
  2. CB

    Crypto Banter@crypto_banterPost on X 路

    馃毃NXTT AUTHORIZES SALE OF ~5,833 BTC WORTH ~$450M AFTER BINANCE HACK! Next Technology Holding board authorized the sale or pledging of its ~5,833 Bitcoin holdings, citing the Binance security incident, exchange vulnerabilities, and quantum computing risks. The company says none of its $BTC is held on or through Binance and that there can be no assurance as to the timing, amount, or completion of any sale.

    Open source
  3. CO

    CoindeskArticle 路

    A Nasdaq-listed company may sell $450 million bitcoin, citing Binance hack and quantum fears Next Technology Holding cited exchange security and quantum computing risks in authorizing sales or loans against its 5,833 BTC. It says none of the coins are held at Binance.

    Open source