Next Technology Holding may sell $450M in Bitcoin after Binance hack

The Nasdaq-listed firm, valued at about $8 million, cited exchange security and quantum computing risks in authorizing sales or loans against its 5,833 BTC A Nasdaq-listed company valued at roughly $8 million says it may part with Bitcoin worth about $450 million. That is a stock trading for a sliver of the coins it claims to hold. Next Technology Holding Inc. (NASDAQ: NXTT) says its board has authorized selling or borrowing against its entire stash of 5,833 BTC. The trigger was the security breach at Binance, which pushed the board to rethink the risks of holding crypto at all. What the board approved According to the deep research findings, the board approval took effect on October 30, 2026. It came one day after Binance reported a hot wallet incident on October 29 that compromised approximately $6.3 billion. A hot wallet is the exchange equivalent of a cash register. It stays connected to the internet for fast withdrawals, which also makes it the most tempting target in the building. Binance linked the incident to North Korean actors. Approximately $3 billion of the stolen assets have reportedly been frozen through cooperation with issuers and partners. NXTT’s resolution covers ...