Nakamoto Inc. (NAKA): debt financing — Kindly MD subsidiary Nakamoto obtains $210M USDT loan from Kraken, secured by Bitcoin, to refinance prior debt

Nakamoto Inc.

Loan of 210M USDT from Kraken at 8% per annum, maturing December 4, 2026, secured solely by Bitcoin collateral.
Collateral value must be at least $323.4M; excess returned to borrower, deficiency requires additional Bitcoin.
Proceeds will fully satisfy obligations under the existing term loan with Antalpha Digital Pte. Ltd.
Prepayments within six months of initial funding require a make-whole payment for that period.
Obligations are secured only by the Bitcoin collateral, not by other assets of Kindly MD or Nakamoto.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Nakamoto Inc. incurred loan of 210,000,000 USDT with Payward Interactive, Inc. d/b/a Kraken at 8.00% per annum maturing December 4, 2026.

Instrument: loan
Principal: 210,000,000 USDT
Counterparty: Payward Interactive, Inc. d/b/a Kraken
Rate: 8.00% per annum
Maturity: December 4, 2026
Event: incurrence

Exact text from the filing

On December 9, 2025, the Borrower and Kraken executed a second term sheet (the “ Second Term Sheet ”) for a fixed-term loan of 210,000,000 USDT, which amount includes the Initial Loan balance (the “ Kraken Loan ”), bearing a fee of 8.00% per annum, maturing on December 4, 2026.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nakamoto Inc. entered into Kraken Loan Agreement with Payward Interactive, Inc., doing business as Kraken (effective 2025-12-03).

Action: entry
Agreement: credit facility
Counterparty: Payward Interactive, Inc., doing business as Kraken
Effective: 2025-12-03

Exact text from the filing

On December 3, 2025, Kindly MD, Inc., a Utah corporation (the “ Company ”), through its subsidiary Nakamoto Holdings Inc., a Delaware corporation (the “ Borrower ”), entered into a Master Loan Agreement with Payward Interactive, Inc., a Florida corporation, doing business as Kraken (“ Kraken ”) (the “ Kraken Loan Agreement ”)

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101 debt financings filed in the last 30 days. Browse all debt financings →

Nakamoto Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-026862

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