Nakamoto Gets Extra Year on 60 Million USDT Kraken Loan; Derivatives Count Toward Collateral

Nakamoto Inc. (NAKA) is a bitcoin treasury company, a public company holding bitcoin as a core asset, and has borrowed against it. When bitcoin falls, pledged coins cover less of a loan, and a lender can demand more coins or a partial repayment (a collateral call) or sell the coins. On Thursday, Nakamoto disclosed in an 8-K , a filing that reports a major company event, that it amended that loan on Nov. 11. The lender is Payward Interactive, Inc., which does business as Kraken . The loan is in USDT , Tether’s dollar-pegged stablecoin, not dollars.