From an ambitious blockchain project to a near-missing collapse
Mr. Nguyen Hoa Binh (Shark Binh) started his business in 2001 with Hoa Binh Software Solutions Joint Stock Company (PeaceSoft). Initially, the company operated in the field of enterprise software, then switched to e-commerce and expanded to a number of other fields.
In 2013, PeaceSoft was restructured into Future Technology Investment and Development Company Limited, now NextTech Group Joint Stock Company (NextTech Group), focusing on investing in areas such as financial technology, e-commerce, electronic logistics and education - society. Mr. Nguyen Hoa Binh will hold the role of Chairman of the Board of Directors.
Along with NextTech Group, Mr. Binh is also known as a "shark" in the Shark tank Vietnam program. Also from here, Shark Binh's investment deals attracted a lot of attention and had an impact in the investment community.
One of the projects that attracted attention and caused Shark Binh to be "rupped up" was the AntEx cryptocurrency/digital currency project, a case that has been investigated by the police.
According to research, in 2021, Mr. Nguyen Hoa Binh announced an investment of 2.5 million USD in the blockchain AntEx project through the Next100Blockchain fund, and also held the role of strategic consultant.
AntEx is introduced as a DeFi (deFi) financial ecosystem with the ambition of developing stablecoin VNDT, attracting the attention of the domestic investment community even though at that time, cryptographic assets had no legal basis in Vietnam.
Shortly after that, token AntEx plummeted and lost up to 99% of its value, the project's website and official social networking channels also stopped operating one by one.
In March 2023, AntEx suddenly changed its name to Rabbit (RAB) but the new token also continued to fall sharply, losing about 95% of its value compared to the peak.
The project is almost not mentioned. Until September 24, Mr. Binh suddenly commented on his personal page about the AntEx project. He said that many startups today issue coin only to raise capital early. They threw coin, raised 3-5 million USD, and started to ' dig'. Most of the projects have not been implemented or have failed. 99% of coin falls into this situation: Investors lose money, while project owners 'hold money' to benefit legally" - Shark Binh said.
Shark Binh said he experienced " pain" when participating in the coin.
Mr. Binh also admitted: I have previously invested in the AntEx digital asset issuance project. However, the technology team has committed wrongdoings and then disappeared, causing investors and consultants like me to take credit.
We must face the truth: many coin projects only bring benefits to founders, while investors suffer heavy losses, Mr. Binh emphasized.
In addition to AntEx, Shark Binh and the Next100Blockchain fund have also participated in other blockchain projects such as the NFT Dragon Land game developed by V2B Labs. Most are in a state of "dead" - just like ChainPlay's late 2024 report: the average life of a GameFi project is only about 4 months, 93% lose more than 90% of the ticket value.
NextTech Group has great ambitions but unexpectedly narrowed its charter capital
Meanwhile, the NextTech Group ecosystem founded by Shark Binh and Chairman of the Board of Directors also attracted much attention when it expressed great ambition with a valuation target of up to billions of USD. The company introduces itself as " Alibaba of Vietnam" with a strong presence.
However, NextTech's moves seem inconsistent with this ambition as fluctuations in charter size suddenly drop sharply.
In the most recent fluctuations, at the end of 2020, NextTech increased its charter capital from VND 100 billion to VND 500 billion. However, on October 5, 2023, the company's charter capital suddenly decreased sharply to more than VND 4.2 billion, with the structure: Mr. Nguyen Hoa Binh: VND 2.94 billion (70%); Mr. Nguyen Huy Hoang: VND 1.26 billion (30%).
The ownership structure until the end of October 2023 had slight fluctuations, but Mr. Binh still held 70%.
With similar moves to NextTech, Ngan Luong Payment Intermediary Joint Stock Company - a company in the NextTech ecosystem - started with a capital of 52.7 billion VND, Ngan Luong increased capital many times, at one point up to nearly 370 billion VND. However, by January 2024, the charter capital decreased to VND 52.7 billion.
