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Benjamin Njiri

David Bailey rejects scam accusations as Nakamoto Bitcoin treasury stock plunges 99%

David Bailey, Chairman and CEO of Bitcoin treasury firm Nakamoto (Nasdaq: NAKA), has rejected scam accusations after the company’s stock plunged 99% from its May peak. Following a merger with KindlyMD and subsequent acquisitions of BTC Inc. and UTXO Management, critics have raised concerns over preferential share pricing, opaque transactions, and overcollateralized loans tied to 5,765 BTC, while broader Bitcoin treasury demand has also weakened after a brief January recovery.
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