Khing Oei

Khing Oei is a Dutch investor and entrepreneur serving as Founder and CEO of Treasury, a Netherlands-based Bitcoin treasury company. His career spans traditional finance and digital assets, beginning at Goldman Sachs in the Fixed Income, Currency & Commodities Special Situations Group, followed by senior investment roles at Fortress and Bardin Hill (formerly Halcyon), where he was CEO of Europe and built the firm's $2.5 billion securitized credit business. He later founded Eyck Capital, a $200 million event-driven distressed and special situations hedge fund twice nominated for EuroHedge awards. Oei subsequently advised on crypto distressed situations including FTX and Genesis, overseeing multi-billion-dollar Bitcoin swaps, acquisitions, and distributions. Through Treasury, launched in 2025, he connects Bitcoin treasury strategy with European capital markets, advancing Bitcoin as a corporate reserve asset. He also serves as Chairman of the Board of Cypherpunk Technologies.

History & Background

Oei began his career at Goldman Sachs in the FICC Special Situations Investing Group, executing complex transactions across equities, credit, and special situations. He moved into senior investment roles at Fortress Investment Group and later at Bardin Hill (formerly Halcyon), where as CEO of Europe he built the firm's $2.5 billion securitized credit business. He then founded and served as Chief Investment Officer of Eyck Capital, a London-based $200 million event-driven hedge fund focused on distressed and special situations. His later work brought him into digital assets: he served as Senior Advisor Crypto at a multi-billion-dollar hedge fund, where he was a member of the Board of Directors and oversaw multi-billion-dollar Bitcoin swaps, acquisitions, and distributions in crypto distressed situations such as FTX and Genesis. As an entrepreneur he also launched Maicrotrader, an AI-driven Bitcoin venture.

Founding of Treasury

Treasury was founded in the Netherlands in 2025 by Khing Oei, who leads the company as CEO. Treasury was designed as a euro-denominated Bitcoin treasury business whose strategy centers on Bitcoin as a corporate reserve asset, combined with capital-markets financing using both equity and debt instruments to systematically accumulate Bitcoin and generate Bitcoin yield. The company launched on 3 September 2025 with an initial €126 million (approximately $147 million) private funding round led by Winklevoss Capital and Nakamoto Holdings, with participation from UTXO Management, Off The Chain Capital, M1 Capital, and others. At launch, Treasury had already accumulated more than 1,000 Bitcoin. Treasury is a corporate entity separate from the Bitcoin network itself; it does not control or own the Bitcoin network.

Important: Reverse Listing Was Cancelled

Treasury announced plans on 3 September 2025 to pursue a reverse listing on Euronext Amsterdam through MKB Nedsense N.V., with the intended ticker ‘TRSR’. On 23 October 2025, MKB Nedsense shareholders voted approximately 99.99% in favor of the transaction. That proposed reverse listing did not complete. The transaction was cancelled in February 2026 after required conditions, including approval from the Dutch regulator AFM, were not satisfied. Treasury is therefore not currently a publicly listed company, and ‘TRSR’ is not an active listed ticker. MKB Nedsense N.V. and Treasury B.V. remain separate corporate entities. The founders have indicated they continue to explore a potential European listing, but no new transaction has been completed as of August 2026.

Current 2026 Work

As of August 2026, Treasury continues to operate as a private, euro-denominated Bitcoin treasury company. Its activities focus on Bitcoin treasury strategy, Bitcoin accumulation, capital-markets financing, and institutional Bitcoin exposure in Europe. Treasury has indicated it is pursuing Bitcoin-per-share and similar treasury-performance concepts. The company has stated it remains committed to a European listing ambition, though no completed transaction is confirmed. Historical figures—such as the approximately 1,000 Bitcoin accumulated at launch in September 2025—should be understood as snapshots dated to that time and not as current holdings.

Bitcoin Amsterdam

In September 2025, Treasury entered into a definitive agreement to acquire Amsterdam Decentralized B.V., an affiliate of BTC Inc. and the company that organizes the Bitcoin Amsterdam conference, Europe's flagship Bitcoin event. Treasury also partnered with BTC Media LLC in support of the conference. The 2025 edition of Bitcoin Amsterdam took place on 13–14 November 2025, and the 2026 edition has been announced for 5–6 November 2026. This acquisition makes Treasury a sponsor and organizer of the conference; it does not imply that Khing Oei personally owns or operates the wider Bitcoin Conference organization.

Other Current Roles

Beyond Treasury, Khing Oei serves as Chairman of the Board of Cypherpunk Technologies Inc. (formerly Leap Therapeutics), a publicly listed company pursuing a Zcash treasury strategy. His appointment was announced in November 2025. He is also identified in corporate filings as the sole director and employee of CoinXit. These are secondary roles; Treasury remains his primary profile organization.

Why Khing Oei Matters in Crypto

Khing Oei represents a growing bridge between traditional institutional finance and the Bitcoin treasury-company sector in Europe. His two decades of experience in distressed credit, special situations, and securitized credit—at firms including Goldman Sachs, Fortress, and Bardin Hill—bring a capital-markets discipline to corporate Bitcoin accumulation that is still uncommon in Europe. By founding a euro-denominated Bitcoin treasury company and pursuing European capital-markets access, he has helped introduce the corporate-treasury model pioneered by firms like MicroStrategy and Strategy (MSTR) to European investors and regulators. His work on crypto distressed situations, including FTX and Genesis, also gives him direct experience with Bitcoin in bankruptcy and restructuring contexts. Whether Treasury ultimately succeeds in its listing ambitions or not, Oei's involvement has contributed to the broader conversation about Bitcoin as a corporate reserve asset in European financial markets.