Kraken holds the instant liquidation switch on a crypto firm’s 479 Bitcoin if price drops to $45,094

USBC increased a Bitcoin-backed loan to $18 million in late July. That created a price-dependent risk: the company could have to add collateral or repay debt within 24 hours. Using the filing’s July 31 inputs, the disclosed 130% call ratio equates to an illustrative Bitcoin price near $48,852. The company is developing a tokenized-deposit offering. In its Aug. 7 Form 10-Q, it said a fourth draw of $3 million on July …