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Nakamoto owes Kraken 165 million USDT, more than its market value
The bitcoin custodian has agreed with the exchange to push back repayments by a year, according to Bits.media.
Key takeaways
- Nakamoto owes the crypto exchange Kraken 165 million USDT, Bits.media reported.
- The debt is larger than the market capitalisation of the bitcoin custody company.
- Nakamoto could not pay the full secured debt and agreed to defer payments by a year.
- The debt is secured by bitcoin, according to the report.
Debt larger than the company
Nakamoto, a company that sells bitcoin custody services, owes the crypto exchange Kraken 165 million USDT, according to a report by Bits.media published on 13 November 2026. The figure is larger than the market capitalisation of the custodian, the report said.
USDT is a stablecoin, a token designed to hold a value close to one US dollar. The report did not give the date on which the debt was incurred or the terms attached to it.
Payments pushed back a year
According to Bits.media, Nakamoto was unable to pay the whole of the bitcoin-backed debt. The company reached an agreement to move the payments back by a year.
The report describes the debt as secured by bitcoin but does not say how much bitcoin backs it, at what price it was valued, or what happens if the collateral falls short. It also does not say whether Kraken has commented on the arrangement.
Bits.media did not report how the deferral affects Nakamoto's customers or the bitcoin the company holds for them. Those details were not available in the report.
Sources
1 reportThis article was drafted by Clause, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
How much does Nakamoto owe Kraken?
According to Bits.media, Nakamoto owes the crypto exchange Kraken 165 million USDT, an amount larger than the company's market capitalisation.
What did Nakamoto agree with Kraken?
Bits.media reported that Nakamoto could not pay the full bitcoin-backed debt and agreed to defer the payments by a year.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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