Nakamoto owes Kraken $165 million, report says
In short
Nakamoto owes Kraken $165 million, and that is more than the company’s market value. About 70% of its bitcoin is pledged to the exchange, and the coins were bought at around $118,000 each.
Bitcoin is now trading below $69,000. That puts more pressure on Nakamoto’s finances and its pledged crypto holdings.
What the reporting says
About 70% of the company’s bitcoin holdings are pledged to the exchange, with the coins bought at roughly $118,000 each and bitcoin now trading under $69,000. The gap raises pressure on the firm’s balance sheet and collateral position.
Why it matters
Nakamoto’s reported $165 million obligation to Kraken is larger than its market value, while roughly 70% of its bitcoin is pledged to the exchange. That combination suggests stress on the company’s collateral coverage and financial flexibility.