Trump's Crypto Ally Fights to Save His Company After a 99% Crash - Nakamoto (NASDAQ:NAKA)

Nakamoto Inc. (NAKA), a Bitcoin treasury company associated with Trump ally David Bailey, has crashed about 99% from its peak as it searches for cash-generating acquisitions to stay afloat. Bloomberg reported that Bailey raised roughly $760 million for Nakamoto after helping sway Trump toward Bitcoin. The stock surged right after a May 2025 merger announcement, then collapsed 99%, wiping out the premium investors once paid for Bitcoin exposure via a public vehicle. The problem: the shares now trade below the value of Nakamoto’s Bitcoin holdings, breaking the financing model used by firms like Strategy (MSTR). In May, the company executed a 1-for-40 reverse split to meet Nasdaq’s minimum bid price, and in the first half of 2026 reported losses of about $372 million.