Nakamoto Extends $60M Kraken Loan, Adds Bitcoin Derivatives to Its Collateral

The Bitcoin-native holding company founded by David Bailey, Nakamoto, has bought itself another year before part of its Kraken debt comes due. But it still owes $165 million in USDT, which, interestingly, is more than the market values the company. The firm said its subsidiary, Nakamoto Holdings, amended its agreement with Kraken to move the maturity date on $60 million from December 4, 2026, to December 4, 2027. The remaining $105 million is due on June 30, 2027, meaning none of the loan principal is scheduled to mature this year.