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Former Ripple director buys healthcare technology company Known Labs for 1,000 Bitcoin
Greg Kidd, former risk director of (CRO) at Ripple, is acquiring a controlling stake in the health technology company Known Labs. After the deal is completed in the third quarter of this year, Kidd will take on the role of CEO and chairman of the board of the company.
The deal will be paid in 1,000 Bitcoin ( equivalent to about 105 million USD) and a portion in cash. Kidd will implement a Bitcoin treasury strategy, similar to the approach of Michael Saylor, meaning Known Labs will hold Bitcoin as a core strategic asset.
Bitcoin is expected to account for 82% of the company's total market capitalization after the strategy is implemented.
Meanwhile, Ripple and XRP are also seeing new momentum in being adopted by businesses. Webus International (China ) has proposed establishing a treasury fund of 300 million USD in XRP. VivoPower and Wellgistics are also considering establishing XRP treasuries worth 121 million USD and 50 million USD, respectively.