Nakamoto Owes a Lender $165M, More Than the Company Is Worth
• Nakamoto owes a major US exchange 165M USDT against a market value of about $104M
• The 60M USDT payment moved from Dec 2026 to Dec 2027; 105M is due June 30, 2027
• 3,030 of its 4,283 BTC are pledged, roughly 126% of the debt with BTC under $69K; Q3 operating revenue turned negative on options losses
Bearish read: the balance sheet leans on BTC holding up, and the cushion is thin if it keeps falling. Not financial advice, DYOR.
$BTC
• Nakamoto owes a major US exchange 165M USDT against a market value of about $104M
• The 60M USDT payment moved from Dec 2026 to Dec 2027; 105M is due June 30, 2027
• 3,030 of its 4,283 BTC are pledged, roughly 126% of the debt with BTC under $69K; Q3 operating revenue turned negative on options losses
Bearish read: the balance sheet leans on BTC holding up, and the cushion is thin if it keeps falling. Not financial advice, DYOR.
$BTC
