Nakamoto Struggles
Kindly MD (NAKA), the bitcoin treasury company backed by David Bailey that recently merged with Nakamoto Holdings, is off to a rough start. Share prices have now fallen 95% from their May peak with more damage being done yesterday after Bailey sent a letter to shareholders warning of more volatility and urging "shareholders who have come looking for a trade” to exit. At one point, Nakamoto traded at more than 20x the value of its BTC holdings. However, that has declined to a mNAV of just 0.7, compared to an mNAV of 1.2 for Strategy (MSTR). Read more →
BASE Explores Issuing a Token
Yesterday, at Coinbase’s BaseCamp 2025 event, the creator of BASE, Jesse Pollak, teased a native token. While there are no definite plans of Coinbase going through with a launch, based on their communication it would seem likely we see it come to fruition. Polymarket has chances that a launch occurs in 2025 at 18%, and we agree… this probably won’t happen until at least next year. Read more →
Strategic Reserve Efforts Return
Notable crypto advocates such as Michael Saylor head to Washington today. There, they will attend a roundtable hosted by Sen. Cynthia Lummis and Rep. Nick Begich, the Republican cosponsors of the reintroduced BITCOIN Act, which would direct the Treasury to acquire 1 million BTC over a 5-year plan using “budget-neutral” methods. The legislation so far only stands before the House Financial Services Committee and the Senate Banking Committee, both of which have not yet planned a hearing for the bills. This week’s discussions will be all about strategy and how they plan to garner bipartisan support. Read more →
Donald Trump is suing the New York Times for harming his memecoin Link»
This Buffett Devotee Is Plowing Billions Into Crypto Link»
Polymarket brings prediction markets to company earnings after US clearance Link»
Canadians Can Now Earn up to 4.5% Rewards on Their USDC Balance Link»
Get Ready for Crypto’s ETPalooza Link»
📥️ Want to advertise in CoinSnacks? Learn More
*This is a paid advertisement for Pacaso's Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving the ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals
