NXTT considers selling or pledging its 5,833 BTC after Binance breach

what happened

Next Technology Holding (NXTT), a Nasdaq-listed firm that Crypto Briefing says is valued at roughly $7-8 million, claims to hold Bitcoin worth about $450-480 million. Its board has approved selling or borrowing against all 5,833 BTC. The move followed a hot wallet incident at Binance, which the exchange said on October 29 compromised about $6.3 billion and which it linked to North Korean actors. According to the research findings, the resolution took effect on October 30, 2026.

The chief executive will decide timing and method, either an outright sale or a loan secured by the coins. The company says none of its Bitcoin sits at Binance and points to broader exchange security concerns and quantum computing risks. However, NXTT has not named institutional custodians or disclosed wallet addresses, so the holdings cannot be checked on-chain. Per the same findings, the average cost basis was about $30,000-31,386 per coin, implying an outlay of roughly $175-183 million.

why it matters

For the Bitcoin market, a sale of 5,833 BTC is noticeable but not large, and a staggered sale or loan structure could soften the effect. Pledging coins adds leverage and liquidation risk if prices drop sharply. For NXTT shareholders, the key issue is verification: without addresses or custodian names, they must rely on the company's word.

market impact

Bitcoin: a possible sale of the company's coins adds supply and pressures the price

• ▼Bitcoin pressure down — a possible sale of 5,833 BTC adds supply to the market

tags

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