Nakamoto owes Kraken $165 million, exceeding its market capitalization of $104 million.

David Bailey's Bitcoin reserve company, Nakamoto, owes Kraken $165 million, exceeding Kraken's market capitalization of $104 million. The company purchased Bitcoin at an average price of approximately $118,000. Kraken has agreed to extend the repayment deadline for $60 million to December 2027, with the remaining $105 million due in June 2027. Nakamoto holds 4,283 BTC, of which 3,030 BTC are used as collateral for loans, currently valued at approximately $208 million. (Source: Bitcoin News)