Key facts
- Next Technology plans to sell its 5,833 Bitcoin holdings.
- The company is the 18th-largest Bitcoin treasury firm.
- The Board cited the Binance hack and quantum computing threats as reasons for the sale.
Nasdaq-listed Next Technology announced on October 29 that its Board has unanimously approved the sale or pledging of its approximately 5,833 Bitcoin holdings. The company, which ranks as the 18th-largest Bitcoin treasury firm, cited the recent Binance hack and concerns over quantum computing as primary drivers for reducing its digital asset exposure. The Board determined that adjusting the company's position would mitigate risk and enhance liquidity. CEO Weihong Liu will oversee the execution of these sales, which can occur through direct exchange sales, over-the-counter transactions, or by pledging the holdings for financing.