David Bailey and its holding company Nakamoto raise $710 million and merge with KindlyMD

PANews reported on May 12 that David Bailey and his Bitcoin native holding company Nakamoto and medical service provider KindlyMD (NASDAQ: KDLY) officially announced a merger, and will establish an open market Bitcoin Treasury through the merger. According to an official press release, the transaction raised a total of $710 million in funds, including $510 million in PIPE financing and $200 million in convertible bonds, financing the largest public crypto transaction to date.

David Bailey will serve as CEO of the merged company and plans to build a global ecosystem with Bitcoin as the core, covering media, finance and advisory services. The company will accumulate Bitcoin through financial tools such as equity and debt, and increase Bitcoin Yield per share. KindlyMD's medical business will continue to remain, and its shares are still trading on the Nasdaq.

Last week, David Bailey, who had advised Trump on crypto policy, plans to set up a Bitcoin investment company and plans to raise $300 million .