Bitcoin firm Nakamoto owes Kraken $165 million, more than its entire market value
Summary
Bitcoin-focused firm Nakamoto owes exchange Kraken a massive $165 million. This debt significantly exceeds the company's total market value as a result of heavy losses on pledged cryptocurrency.
About 70% of the bitcoin treasury firm’s coins are pledged to the exchange, bought at roughly $118,000 each, and bitcoin now trades under $69,000.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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