Standard Chartered Says Crypto Winter 'Likely Ended' at Bitcoin $59,000; Nakamoto Inc. Sells 600 BTC to Repay $45M Kraken Debt

According to ChainCatcher (citing BBX data), Standard Chartered's Global Head of Digital Assets Research Geoffrey Kendrick stated on June 12 that the "crypto winter has likely ended," identifying Bitcoin at $59,000 as the bear market low. Kendrick cited three supporting factors: post-SpaceX IPO capital flows returning to risk assets, structural inflows from spot Bitcoin ETFs, and expanding corporate Bitcoin reserve demand.

Nakamoto Inc. (Nasdaq: $NAKA) disclosed on June 11 via BusinessWire that it sold approximately 600 BTC and Bitcoin derivatives, generating about $48 million in proceeds to repay a $45 million Kraken loan. The company restructured its remaining $165 million USDT debt (down from $210 million), with $60 million due December 4, 2026 and $105 million extended to June 30, 2027. The new interest rate dropped to 7.75% from 8%, with an annual financing cost savings of approximately $4 million. The board approved a $25 million stock buyback plan through December 31, 2026.