KindlyMD secures 210 million Tether loan from Kraken… Antalpha loan repaid in full

KindlyMD has entered into a Bitcoin-collateralized loan agreement with Kraken for 210 million Tether, restructuring its borrowing and repaying an existing loan from Antalpha Digital.

According to The Block on the 9th (local time), KindlyMD's subsidiary Nakamoto Holdings entered into a one-year loan agreement with Kraken operator Payward Interactive. An 8-K filing submitted to the U.S. Securities and Exchange Commission stated that the loan facility is 210 million Tether with an 8% annual fee, and that at least 323,400,000 dollars worth of Bitcoin will be provided as collateral.

The collateral will be held by Kraken affiliate Payward Financial, and the three parties will enter into a joint account control agreement to ensure the safety of the collateral during the term of the contract. The filing said the loan proceeds will be used to fully repay the existing loan with Antalpha Digital that was entered into in October 2025.

KindlyMD completed a merger with Nakamoto Holdings in August this year, shifting from its existing healthcare business to a company focused on operating a Bitcoin treasury. The company purchased a total of 5,765 Bitcoins at an average of 118,204 dollars per Bitcoin by the end of September, thereafter used 367 Bitcoins for investment purposes, and as of November 12 held 5,389 Bitcoins.

KindlyMD's Nasdaq-listed stock NAKA closed at 0.47 dollars on the 9th, up 3.5%.