Nakamoto Gets Extra Year on 60 Million USDT Kraken Loan; Derivatives Count Toward Collateral
By Unchained
AI summary of the source article
Nakamoto Inc. amended its USDT loan with Kraken, extending the maturity of 60 million USDT from December 2026 to December 2027. Kraken will also now credit Nakamoto's derivatives trades toward collateral call and liquidation tests.
Why it matters
Chief Investment Officer Tyler Evans stated in a press release: “This amendment extends our runway and makes our collateral position more resilient.”
Key facts
- Nakamoto amended its loan with Kraken on Nov. 11, moving 60 million USDT of its 165 million USDT debt maturity to Dec. 4, 2027.
- The remaining 105 million USDT of the loan remains due on June 30, 2027.
- Kraken will now credit the net value of Nakamoto's derivatives trades when testing for collateral calls and liquidation.
Source excerpt · Unchained
The bitcoin treasury company now has no principal due in 2026, and by Unchained's math the bitcoin it had pledged as of Sept. 30 covers the 165 million USDT loan down to about $54,455 per bitcoin. The post Nakamoto Gets Extra Year on 60 Million USDT Kraken Loan; Derivatives Count Toward Collateral appeared first on Unchained .