Nakamoto delays $165M Kraken loan maturities into next year

U.S.-listed Bitcoin-buying company Nakamoto (NAKA) has pushed the repayment schedule on a 165 million USDT loan from Kraken into next year, according to CoinDesk. In a recent filing, Nakamoto said the maturity on 60 million USDT due on Dec. 4 was extended to Dec. 4 next year, while the remaining 105 million USDT kept its June 30 maturity next year. As a result, the company no longer has any scheduled repayments this year. CoinDesk said Nakamoto has a market capitalization of about $104 million, smaller than its debt load. With BTC falling below $69,000, the value of 3,030 BTC posted as collateral has shrunk to about 126% of the loan amount, although the extension eases the company’s repayment burden for this year.