Bitcoin treasury company Nakamoto owes Kraken 165 million USDT

According to TechFlow on November 13, citing CoinDesk, Bitcoin treasury company Nakamoto owes Kraken 165 million USDT, with the debt exceeding its market capitalization of approximately $104 million at Thursday's close.

Under the newly amended agreement, 60 million USDT originally due on December 4 this year has been extended to December 4, 2027, while the remaining 105 million USDT is still due on June 30, 2027. Kraken has agreed to include the net value of Nakamoto's Bitcoin derivatives positions in the loan collateral requirements.

As of the end of September, 3,030 of the 4,283 Bitcoin held by Nakamoto were pledged to Kraken. If the collateral value falls below the specified maintenance level, the company must repay part of the loan, pledge additional Bitcoin collateral, or take both actions.

Source: TechFlow