According to CoinDesk, Nakamoto (NASDAQ: NAKA), a Bitcoin treasury firm founded by David Bailey, currently owes crypto exchange Kraken 165 million USDT, exceeding its approximately $104 million stock market capitalization. According to SEC filings, as of the end of September, of the 4,283 BTC held by the company, approximately 3,030 (71%) were pledged to Kraken. Based on Bitcoin's price of approximately $69,000, the pledged assets are worth approximately $209 million, only 1.27 times the loan principal. With the continued decline in Bitcoin prices, the company faces the risk of needing to provide additional collateral or prepay part of the loan. https://wublock123.com/news/bitcoin-treasury-firm-nakamoto-owes-kraken-165m-debt-exceeds-market-cap-71893