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Former Ripple exec Greg Kidd buys Know Labs with Bitcoin

6 June 2025
in Health
Reading Time: 2 mins read
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Former Ripple exec Greg Kidd buys Know Labs with Bitcoin
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Goldeneye 1995 LLC, an affiliate of fintech investor and Ripple’s former chief risk officer, Greg Kidd, is buying a controlling interest in health monitoring company Know Labs using 1,000 Bitcoin and some extra cash. 
U.S.-based medical device company Know Labs develops non-invasive health monitoring tools using radio-microwave spectroscopy to help identify and measure molecules inside and outside of the body. 
The company is developing KnowU, a non-invasive wearable and continuous blood glucose monitor with sensor technology designed to help people with diabetes manage their condition. 
It can be worn as an adhesive, where the wearer can clip the sensor on and off, or be worn on one’s wrist or forearm with a strap. 
Goldeneye will purchase the company’s common stock by adding the value of 1,000 Bitcoin (currently selling at around $105,160.57 a coin) and some extra cash. To determine how many shares the LLC will receive, that total value of the Bitcoin will then be divided by the company’s share price of $0.335. 
The company plans to keep the 1,000 Bitcoin as part of its financial reserves or assets, meaning investors may indirectly benefit if the price of Bitcoin increases in value. 
Upon closing of the deal, Kidd will become Know Labs’ CEO and chairman of the company’s board of directors. 
“I’m thrilled to deploy a Bitcoin treasury strategy with the support of a forward-looking organization like Know Labs at a time when market and regulatory conditions are particularly favorable,” Kidd said in a statement. 
“We believe this approach will generate sustainable growth and long-term shareholder value.” 
THE LARGER TREND
Know Labs’ stock is currently trading on the New York Stock Exchange under the ticker symbol KNW at around $0.81 per share. The company went public in 2006, opening at $6,600 per share. 
Cryptocurrency, including Bitcoin, is notoriously volatile. The decentrailized cryptocurrency reached an all-time high of $111,681.70 at the end of May. A year ago, the coin was selling for around $71,103.14. 
Another company employing a Bitcoin reserve is medical technology and software company Semler Scientific, which manufactures and markets products that support the early detection and treatment of chronic diseases. 
The company, which has long held Bitcoin reserves, announced in February that it purchased 871 additional Bitcoins for $88.5 million, bringing its total Bitcoin count to 3,192. 

Credit: Source link

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