A Bitcoin Treasury Company Has a Doctor on Staff, But Why?
BeInCrypto
Nakamoto Inc. explains that its Chief Medical Officer role is a byproduct of a reverse merger with a healthcare firm to satisfy Nasdaq requirements.Summary
Nakamoto Inc. (NAKA) has faced criticism for maintaining a Chief Medical Officer, a role seen by skeptics as emblematic of excessive spending in the digital asset treasury sector. CEO David Bailey clarified that the position exists because Nakamoto resulted from a reverse merger with the healthcare provider KindlyMD. Retaining the medical subsidiary and its leadership is essential for the company to remain an active business and satisfy Nasdaq listing requirements. Amidst significant financial losses and shareholder dilution, the company's future performance hinges on its operational revenue rather than just its Bitcoin holdings.
(Source：BeInCrypto)