BASE Token?

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 →

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 →

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 →

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