KindlyMD enters $210 million USDT loan agreement with Kraken
The Block
KindlyMD's subsidiary secured a $210 million USDT loan from Kraken, secured by $323.4 million in Bitcoin collateral.Summary
KindlyMD, through its wholly-owned subsidiary Nakamoto Holdings, finalized a $210 million USDT-denominated loan facility with Kraken (Payward Interactive) on December 9th. This one-year fixed-term loan carries an 8.00% annual fee and matures in December 2026. The loan is secured by a minimum of $323.4 million worth of Bitcoin collateral held in custody by Payward Financial. The proceeds from the Kraken loan will be used to fully satisfy an outstanding term loan facility with Antalpha Digital, effectively ending KindlyMD's borrowing relationship with Antalpha. KindlyMD, which transitioned from healthcare to operating a bitcoin treasury vehicle after merging with Nakamoto Holdings, held 5,389 BTC as of November 12, 2025.
(Source：The Block)