Former Ripple executive Greg Kidd to acquire controlling stake in publicly traded company Know Labs and launch Bitcoin financial strategy for it

According to Businesswire, Know Labs, a listed company specializing in non-invasive health monitoring technology, announced that it has reached a controlling acquisition agreement with Goldeneye 1995 LLC, a subsidiary of fintech investor Greg Kidd. Kidd previously served as Ripple's Chief Risk Officer and will become the company's CEO and Chairman of the Board upon completion of the transaction. According to the agreement, the acquirer will complete the transaction at a price of $0.335 per share through a combination of 1000 bitcoins (calculated at current market prices) and cash, with the cash portion used for debt repayment and supplementing working capital. Bitcoin will be included in the company's balance sheet, accounting for 82% of its current market value, with an implied valuation of 1.22 times. Greg Kidd plans to introduce Bitcoin revenue strategy into the public market. Company founder Ron Erickson will be appointed as the new department president to continue leading technology research and development. The transaction has been unanimously approved by the board of directors and is expected to be completed in the third quarter of 2025.