BitMax, a South Korean digital asset treasury company, has denied plans to sell its Bitcoin holdings despite transferring its entire Bitcoin reserve to overseas exchanges like Binance and Bybit. The company clarified that the move was intended to enhance security and operational efficiency by distributing the assets across multiple secure accounts. BitMax's CEO emphasized that no Bitcoin has been sold. The company has been under financial strain, reporting a $52 million net loss in Q3 2025, leading to budget cuts and a suspension of its stock trading on the Korea Exchange. BitMax assured stakeholders that an external audit confirmed the reliability of its financial statements, attributing the loss to accounting valuation rather than cash outflows.
BitMax Denies Bitcoin Sale Amid Transfer to Overseas Exchanges
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