The deal includes Bitcoin collateral worth $323.4 million and carries an 8% interest rate, with proceeds earmarked for repaying existing term loans.
Nakamoto Holdings has entered into a $210 million USDT (Tether stablecoin) loan agreement with Kraken, carrying an interest rate of 8%. The company is providing at least $323.4 million worth of Bitcoin as collateral. Funds from the loan will be allocated to repay outstanding term loans.