Summary
- KULR Technology Group announced it has secured a $20 million credit line.
- The credit line was reported to be a loan agreement with a portion of Bitcoin as collateral.
- It was stated that the secured funds are intended for Bitcoin investment.
KULR Technology Group, a space technology company listed on the New York Stock Exchange, has reportedly secured a $20 million credit line.
On the 8th (local time), KULR Technology announced via X (formerly Twitter) that it had secured a total $20 million credit line from Coinbase Credit, a subsidiary of Coinbase. The loan agreement was signed with a portion of the company’s existing Bitcoin holdings as collateral. The secured funds are planned to be used for Bitcoin investments.
As of 9:18 PM, Bitcoin was trading at $108,775 on Binance’s USDT market, up 0.33% from 24 hours earlier.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
