AMSTERDAM, BITCOIN X TREASURY BUYING

Treasury launches to become Europe’s largest Bitcoin treasury company, backed by Winklevoss Capital and Nakamoto

Highlights 
• Treasury B.V. (“Treasury”), an emerging euro-denominated Bitcoin treasury company, has raised initial funding of €126 million ($147 million) through a private round led by Winklevoss Capital and Nakamoto Holdings Inc., a subsidiary of KindlyMD, Inc. (NASDAQ: NAKA). Treasury already has more than 1,000 Bitcoins to help advance its Bitcoin Strategy.
• Treasury has the ambition to be the first Bitcoin treasury company listed on a primary European exchange, and it will pursue such listing via a reverse listing on Euronext Amsterdam through MKB Nedsense N.V. (“MKBN”).
• Treasury aims to implement a robust capital market strategy, leveraging both equity and debt to systematically accumulate Bitcoin as its primary reserve asset while generating Bitcoin yield. 
• Treasury will also act as a leading ambassador for Bitcoin, having entered into a definitive agreement to purchase Amsterdam Decentralized B.V., an affiliate of BTC Inc. and the company that hosts the Bitcoin Amsterdam conference.
• Treasury has also partnered with BTC Media LLC, an affiliate of BTC Inc., in support of the Bitcoin Amsterdam conference.
• Treasury was founded and is led by CEO Khing Oei and will establish a Strategic Advisory Board that includes Cameron and Tyler Winklevoss and David Bailey.

“Bitcoin is shaping the future of global financial markets, and the next wave, which we call the equitization of Bitcoin, is expected to dramatically broaden access and ownership that will rival traditional markets. Treasury was established to level the playing field in Europe by expanding access and strategically positioning Bitcoin at the core of the region’s financial ecosystem.

To advance our mission of becoming the largest Bitcoin treasury company in Europe, we have raised an initial €126 million ($147 million) in funding through a private round led by Winklevoss Capital and Nakamoto, which we have already leveraged to accumulate 1,000 Bitcoin. Our strong capital base also supports our intention to pursue a reverse listing on Euronext Amsterdam, positioning Treasury as one of the first Bitcoin treasury companies to be listed on a primary European stock exchange. This access to major capital markets enables rapid scaling, efficient Bitcoin accumulation, and the leverage of Europe’s rich trading heritage for long-term growth. As a leading Bitcoin ambassador in Europe, Treasury reinforces its presence by acquiring Bitcoin Amsterdam and partnering with BTC Inc., creating a growth flywheel we believe will ignite the Digital Golden Age.” Khing Oei, Founder & CEO of Treasury

Launch led by the founder, supported by an industry-leading advisory Board
Khing Oei founded Treasury and leads it. Khing is a veteran investor who has worked at Goldman Sachs Fortress in addition to managing his hedge funds. He is well-versed in traditional finance as well as digital asset markets.  

Treasury is establishing a Strategic Advisory Board, which will include Cameron, Tyler, and David Bailey, the leading Bitcoin pioneers. Cameron and Tyler are the founders of Gemini, a leading cryptocurrency exchange in the U.S., and Winklevoss Capital, a venture firm investing in technology and digital assets. David is the Chair and CEO of KindlyMD, Inc., a healthcare provider that offers integrated services, and a Bitcoin Treasury vehicle for institutions through the company’s subsidiary Nakamoto Holdings, Inc.

Euronext Amsterdam Listing and Funding
“The Netherlands is the birthplace of the joint stock company and the stock market, two of the world’s greatest financial innovations. Treasury is continuing this tradition by bringing Bitcoin, the greatest financial innovation of this century, to investors in the Netherlands and Europe. We’re proud to support their efforts.”
Cameron Winklevoss and Tyler Winklevoss Founders Gemini Capital (Winklevoss Capital) and Future Treasury Strategic Advisory Board Members

Treasury selected Euronext Amsterdam as its listing. Euronext, with its rich history of trading that dates back to 1602, and its world-class infrastructure provides access to the global capital markets. Treasury hopes to be the first Bitcoin Treasury company listed on an European primary exchange through the reverse listing. This will provide a platform for growth, and support the integration of Bitcoin in Europe’s mainstream finance ecosystem.

Treasury has raised an initial €126 million ($147 million) via a founder-led private funding round, led by Winklevoss Capital, Nakamoto, UTXO Management, Off The Chain Capital, M1 Capital, Mythos Venture Partners and more than 50 other investors. The funding will be used to implement Treasury’s capital market strategy. It will leverage both debt and equity instruments in order to accumulate Bitcoin and generate Bitcoin yield, as well as to deploy innovative capital market initiatives. Treasury leveraged its funding to amass more than 1,000 Bitcoins. This has strengthened its position in implementing its Bitcoin strategy.

Strategic Acquisition and Partnerships
“This investment represents Nakamoto’s first in the European capital markets. Treasury has one of the best leadership teams I have met among Bitcoin treasury companies. Its participation in one of the oldest and strongest public markets in Europe creates an exciting opportunity for Dutch investors and for Nakamoto shareholders alike.”
David Bailey, Co-founder and former CEO of BTC Inc., CEO and chair of KindlyMD, Inc., future Treasury Strategic Advisory Board Member

Treasury also wants to strengthen Europe’s financial eco-system by increasing awareness of Bitcoin and encouraging its adoption. As an initial step, Treasury has entered into a definitive agreement to acquire Amsterdam Decentralized B.V., an affiliate of BTC Inc. and the company that hosts Bitcoin Amsterdam, Europe’s flagship Bitcoin conference. The Treasury has entered into an agreement with BTC Media LLC – the world’s leading Bitcoin events and media platform, and affiliate of BTC Inc. Treasury will join forces with BTC Inc. to help educate and engage investors and developers, as well as connect them.

Bitcoin Amsterdam, Europe’s largest Bitcoin gathering with more than 150 thought leaders and over 5,000 attendees per year, has become the premier Bitcoin event in Europe. Treasury can gain unprecedented access to Europe’s Bitcoin community, including emerging users. Bitcoin Amsterdam’s next edition will take place in 13–14 November 2025.

Reverse Listing Transaction Details
Treasury plans to list the on Euronext Amsterdam through a reverse listing with MKBN. Upon completion of the transaction, Treasury is expected to trade under the ticker ‘TRSR’.

Please refer to our website for more details. Press release on Reverse ListingToday, a new edition of the magazine was published. 3 September 2025 here.

Media contact
Laura Peijs Press@treasury-btc.com  

Treasury
Treasury is emerging as a Bitcoin Treasury Company denominated in Euro. We are creating a transparent and liquid structure that is institutional grade for Bitcoin exposure across Europe, using Bitcoin as a digital gold standard. The robust Bitcoin Treasury approach is based on systematic Bitcoin acquisition as our main reserve asset, and the generation of Bitcoin yield by using a solid capital markets strategy including debt and equity. Treasury plans to list on Euronext Amsterdam via reverse listing (intended symbol: TRSR) in order to gain access the global capital market. Treasury also hopes to advocate greater Bitcoin adoption across Europe and the Netherlands.

Learn more about www.treasury-btc.com.

Notes

Khing Oei’s biography
Khing Oei, the founder and CEO of Treasury is a Dutch Bitcoin Treasury company that was recently founded with ambitions to be Europe’s biggest. Treasury, backed by Winklevoss Capital as well as Nakamoto and other investors, has plans to reverse list on Euronext Amsterdam.

Khing has extensive experience in both traditional and digital market. Khing was most recently Senior Advisor Crypto for a hedge fund that focuses on distressed crypto situations, such as FTX or Genesis. He is a board member. He was responsible for overseeing Bitcoin acquisitions, swaps and distributions worth billions of dollars.

He began his career at Goldman Sachs in the Fixed Income, Currency & Commodities’ Special Situations Investing Group, before moving into senior investment roles at Fortress and Bardin Hill (formerly Halcyon), where he was CEO of Europe and built the firm’s $2.5B securitized credit business. He later founded and was Chief Investment Officer of Eyck, a $200M event-driven distressed & special situations hedge fund twice nominated for EuroHedge awards.

Khing has executed complex trades in equities and credit as well as special situations. He also dealt with digital assets. He has launched a number of ventures as an entrepreneur including Maicrotrader which is an AI-driven Bitcoin trading platform.

Khing, who was born and raised in Amsterdam returned to his native country after spending 18 years living in London. Khing holds a MSc in Econometrics at Vrije Universiteit Amsterdam.

Bitcoin
Bitcoin, which has been a top-performing investment for the last decade, is known to be resilient and consistent in its growth. Bitcoin is often referred to as “digital gold” because its value stems from a limited supply of 21,000,000 coins. This artificial scarcity distinguishes Bitcoins’ value from fiat currency and makes it a good long-term investment in an age of inflation and monetary expansion. In August 2025 almost 20,000,000 Bitcoin will be mined. This finite amount of Bitcoin reinforces Bitcoin’s scarcity-driven proposition. Bitcoin is not only a currency, but also a programmable one. It allows for new digital forms of transactions, innovative capital markets strategies, and decentralized financial products.

Legal disclaimer
This announcement is only for informational purpose. This announcement is not intended to be complete or accurate. It does not include all information relevant to the reverse listing proposed by Treasury, under a contribution contract between MKBN, and Treasury. “Reverse Listing”The information contained in this announcement, or its accuracy, fairness, and completeness is not to be relied upon by anyone for any purpose. Anyone may not rely on this information or any of its fairness, accuracy or completeness for any purposes. Treasury shall not be liable to any person for loss or damage of any type arising from the use or trusting in information. The announcement is not intended to be an offer or solicitation to buy ordinary shares in Treasury or MKBN, nor should it be taken as such. It also does not recommend any particular investment activity.

The announcement is not a prospectus. MKBN recommends that investors read Euronext’s Information Memorandum (once it is available) and EGM documents, which will be available on MKBN website. These materials contain vital information regarding Treasury and Reverse Listing.

Treasury did not take any actions that would allow an offering of securities, possession or distribution in any jurisdiction that requires such action. In certain jurisdictions, the release, publication, or distribution of these announcements could be limited by law. Therefore, persons who live in jurisdictions where they have been released, published, or distributed should become aware and follow any such laws.

This press release contains statements that may or may not be taken to be, “forward-looking statements”. These statements are identified using forward-looking language, which includes the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will” You can also find out more about “should” In each case they can be expressed in their opposite or similar terminology or through discussions about strategy, plans or goals or future events. Sometimes, forward-looking statements can differ significantly from the actual results. Forward-looking statements are Treasury’s view of future events. They may be subject to uncertainties, risks and assumptions related to Treasury business, operations, financial situation, liquidity, future prospects, growth, or strategies. The forward-looking statements are only valid as of their date.

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