KindlyMD (NAKA) announced a partnership with Antalpha to create a $250 million secured convertible debt facility.
Through its subsidiary Nakomoto Holdings, KindlyMD will leverage Antalpha’s expertise in digital asset financing to create new treasury tool for bitcoin focused-companies, according to the announcement.
The non-binding agreement outlines a five-year convertible note issuance to Antalpha, with proceeds aimed at refinancing a previous $203 million bitcoin-secured credit line from Two Prime Lending and to increase bitcoin holdings.
Pending financilization,Antalpha will also extend an interim bitcoin-backed loan to KindlyMD.
KindlyMD holds 5,765 BTC, and its shares are trading just above $1, representing a roughly 95% decline from the all-time high reached in May.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Ripple's Brad Garlinghouse called Strategy's preferred-stock funding model "financial engineering" that distracted the market, pointing…
Bitcoin’s latest pullback was not driven by a single headline. Instead, traders were hit by…
Tokenized stock trading fueled fresh momentum across the Solana ecosystem, while Aave founder hinted at…
Ripple CTO Emeritus David Schwartz has clarified a long-running point of confusion in the XRP…
Bitcoin Magazine Billionaire Investor Jeremy Grantham: Bitcoin Will ‘Dwindle Away With a Whimper’ Legendary investor…
TL;DR Bitcoin fell below the $59,000 threshold as macro pressure returned to crypto markets. The…