Latest news with #NathanMcCauley
Business Mayor
22-05-2025
- Business
- Business Mayor
KindlyMD, Nakamoto, and Anchorage Digital Form Strategic Bitcoin Treasury Alliance
Nakamoto Holdings Inc., KindlyMD, Inc., and Anchorage Digital today announced a strategic partnership that will see Anchorage become a trading partner for KindlyMD's Bitcoin treasury. The partnership will officially take effect upon the close of KindlyMD's merger with Nakamoto, expected in Q3 2025. Anchorage Digital, a U.S. federally chartered digital asset bank, will provide institutional-grade custody, 24/7 trading, and deep liquidity to support the Bitcoin strategy of the combined entity. 'In the not-so-distant-future, the omission of Bitcoin on a balance sheet will be more glaring than its inclusion,' said Nathan McCauley, CEO and Co-Founder of Anchorage Digital. 'Until then, companies like Nakamoto-KindlyMD are pioneering a new path forward—one in which Bitcoin is at the heart of corporate strategy.' The merger between KindlyMD and Nakamoto is backed by approximately $710 million in financing, including $510 million in PIPE funding—the largest ever PIPE for a public crypto-related deal. The goal is to establish a Bitcoin-native corporate treasury strategy that redefines how capital markets engage with digital assets. 'Our goal is to bring Bitcoin to the center of global capital markets within a compliant, transparent structure,' said David Bailey, Founder and CEO of Nakamoto Holdings Inc. 'We are excited to partner with Anchorage Digital to implement our vision with the highest levels of security and battle-tested infrastructure and enable us to deliver sustained value to shareholders.' This announcement follows a key milestone on May 18, when KindlyMD shareholders approved the proposed merger with Nakamoto. The transaction is now expected to close in Q3 2025, pending SEC review and information statement distribution. 'This milestone brings us one step closer to unlocking Bitcoin's potential for KindlyMD shareholders,' Bailey said yesterday. 'We are grateful that KindlyMD shares our vision for a future in which Bitcoin is a core part of the corporate balance sheet.' With its Bitcoin-first strategy and strategic alliances, the Nakamoto-KindlyMD partnership is set to accelerate institutional Bitcoin adoption—and with Anchorage Digital's infrastructure behind it, the foundation is now firmly in place. 'By collaborating with Anchorage Digital, we are implementing our Bitcoin treasury strategy with the utmost standards in safety and security for our shareholders,' stated Tim Pickett, CEO of KindlyMD. 'Their institutional-grade platform allows us to confidently hold Bitcoin as a treasury asset as we look to unlock access to Bitcoin and drive value for the long term.' Disclosure: Nakamoto is in partnership with Bitcoin Magazine's parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here . READ SOURCE
Yahoo
15-05-2025
- Business
- Yahoo
Anchorage Digital CEO Calls 'Bullshit' on Report of DHS Probe
Anchorage Digital CEO Nathan McCauley denied reports that the U.S. Department of Homeland Security (DHS) is investigating the crypto bank, calling the reporting 'bullshit' during a panel discussion at Consensus 2025 in Toronto on Wednesday In an article published last month, business publication Barron's reported that DHS's money laundering and financial crimes unit, the El Dorado Task Force, was contacting former Anchorage employees to ask them about the company's practices and policies. Neither Anchorage nor DHS commented on the record for that story. Following the report, McCauley said his firm asked its lawyers to look into the allegations and found them to be untrue. 'There is no investigation into us, as is unambiguously clear at this point,' McCauley said. 'That article is what some might call bullshit. Happy to clear the air on that.' Anchorage Digital is widely considered one of the most regulatory compliant companies in the crypto space. In December, it obtained a highly-coveted and difficult-to-get BitLicense from the New York Department of Financial Services (NYDFS), one of the toughest regulators in the crypto industry. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Anchorage Digital to Acquire USDM Issuer Mountain Protocol in Stablecoin Expansion Move
Anchorage Digital, a federally chartered crypto bank and custodian, said on Monday it has signed a definitive agreement to acquire stablecoin issuer Mountain Protocol as part of its strategy to deepen support for institutional stablecoin use. Anchorage said it plans to fold the Mountain's technology, team and licensing structure into its own operations, pending closing procedures and regulatory sign-off. "Stablecoins are becoming the backbone of the digital economy," Nathan McCauley, co-founder and CEO of Anchorage, said in an statement. "With recent regulatory progress and new institutional use cases, our long-term vision is clear: every business will be a stablecoin business." "By acquiring Mountain Protocol, we are taking a significant step forward in supporting institutional stablecoin adoption and advancing a new era of safety, security, and regulatory compliance in the global digital asset ecosystem," McCauley added. The move comes as the stablecoin adoption is soaring, with payment firms, fintechs and even banks eyeing the asset class with legislation looming in the U.S. to regulate. These cryptocurrencies are anchored to an external asset, predominantly to the U.S dollar, and offer a cheaper, faster alternative to traditional payment rails with programmable transfer and . The market could grow to trillions of dollars in this decade from the current $230 billion size, according to Citi. The market is getting increasingly competitive, too, leading to consolidation. Earlier this year, USDC issuer Circle acquired tokenization startup Hashnote, issuer of the yield-bearing USDY token. Mountain, regulated by the Bermuda Monetary Authority, issues the yield-bearing USDM stablecoin backed by short-term U.S. Treasuries. The token, launched in late 2023, saw a rapid growth in its early months to $150 million supply, coinciding with a reward program, but then declined to $50 million, per data. Mountain Protocol said in a blog post that it will phase out its USDM token in an "an orderly wind-down process" as part of the acquisition. UPDATE (May 12, 21:13 UTC): Adds Mountain Protocol decision to phase out USDM. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-04-2025
- Business
- Yahoo
Anchorage crypto bank under Homeland security investigation
Anchorage Digital Bank, the first federally chartered crypto bank in the U.S., is under investigation by the Department of Homeland Security's El Dorado Task Force. This unit is focused on financial crimes and anti-money laundering efforts. According to reports, the task force has contacted past Anchorage employees and requested records from the company to examine its practices internally. However, the specifics of the investigation are not yet known. The investigation comes as Anchorage has positioned itself as a regulatory success in the space, with a bank charter from the Office of the Comptroller of the Currency (OCC) in 2021. In February 2025, Anchorage CEO and co-founder Nathan McCauley appeared before the U.S. Senate Banking Committee to discuss the debanking of crypto firms. In a publicly released note, he said, "Debanking is about more than just the inconvenience and disruption to our business and many others in the crypto industry. It is about ensuring fair access to the financial system and fostering the growth of an industry that could benefit Americans regarding jobs, technological innovation, and financial inclusion. It is a threat to American values to create such arbitrary barriers against new technology and innovation, which undermines our economic competitiveness as a country." Although Anchorage was adhering to federal regulations set by its charter with the OCC, McCauley explained that its banking partners were uncomfortable engaging in crypto-related transactions, specifically cutting ties with the bank. Anchorage was rejected by over 40 banks, which resulted in layoffs and the inability to obtain basic banking services. Seen as a bridge between traditional finance and the rapidly growing digital asset economy, Anchorage provides custody, staking, and trading for over 1,000 institutional clients. McCauley has claimed that Anchorage also included the highest regulatory principles and helped law enforcement trace illegal activity more effectively than traditional financial institutions. Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
BlackRock Adds a New Digital Asset Custodian
BlackRock Inc. (BLK), the world's largest asset manager, has tapped Anchorage Digital as a digital asset custodian for the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA) to meet growing crypto demand from retail and institutional clients. Coinbase Global Inc. (COIN) was previously the only crypto custodian for BlackRock's Bitcoin and Ether exchange-traded funds. Anchorage Digital Bank will be an additional custodian eligible to support BlackRock's crypto exchange-traded products and other funds providing exposure to crypto, according to a press release issued by Anchorage on Tuesday. 'As demand for digital asset products increases, and as our footprint in the ecosystem grows, we continue to expand our network of service providers with a focus on the highest quality institutional providers,' Robert Mitchnick, head of digital assets at BlackRock, said in a statement included in the release. 'After a thorough evaluation, Anchorage Digital clearly meets these standards, and we are excited to be expanding our network of eligible digital asset service providers with the addition of Anchorage Digital.' However, BlackRock doesn't have current plans to move any Bitcoin or Ether from the trusts to Anchorage Digital, per two filings (see here and here) with the Securities and Exchange Commission. The addition of the second custodian reflects BlackRock's 'ongoing risk management approach' as part of the trusts' growing size and the fund manager's "expanding presence in the digital asset space.' 'As BlackRock continues to bridge digital assets and traditional finance, we are excited by the opportunity to set a new standard for tailored access to the digital asset class,' Nathan McCauley, CEO and co-founder of Anchorage Digital, said via the press release. 'By providing federally regulated crypto infrastructure, we are helping BlackRock to meet client demand for today and tomorrow. We are proud to build toward a world where every investor can get exposure to digital assets.' Anchorage's other major asset management clients include alternative asset manager Apollo and crypto ETP issuer 21Shares. IBIT launched in January 2024 and hit the $10 billion in assets milestone just seven weeks later, faster than any ETF before it. Surpassing the Grayscale Bitcoin Trust ETF (GBTC) as the world's largest bitcoin fund, the ETF of the Year finalist has accumulated roughly $45.1 billion in assets under management. ETHA, meanwhile, has around $1.8 billion in assets. Cryptocurrencies were caught up in recent market volatility, with the price of Bitcoin dropping around 18% year to date as of Wednesday morning and Ether plummeting 55%. Still, BlackRock seems to believe in the long-term potential of these digital assets. In February, when Bitcoin ETFs were experiencing record outflows, BlackRock added IBIT to two of its model | © Copyright 2025 All rights reserved Sign in to access your portfolio
