Most Influential: David Bailey

AI Summary3 min read

TL;DR

David Bailey's KindlyMD bitcoin treasury venture soared then collapsed 99% from peak despite his promotion. The article also covers GoPlus revenue data and Binance's Pakistan tokenization plans.

Key Takeaways

•David Bailey's KindlyMD bitcoin treasury company saw shares soar from $2 to $30 then collapse 99% to $0.45
•Bailey encouraged shareholders to exit as early investors sold off after merger completion
•GoPlus generated $4.7M revenue in 2025 with its app as primary driver at $2.5M
•Binance plans to tokenize up to $2B in bonds and assets in Pakistan to attract foreign investment

Among other things, 2025 will surely be remembered for the mania and then stunning collapse of hastily formed bitcoin treasury companies attempting to mirror the success of Michael Saylor's Strategy. Perhaps none were higher profile than that of KindlyMD (NAKA), led by David Bailey, formerly the very successful CEO of Bitcoin Magazine and Bitcoin-whisperer to Donald Trump's victorious presidential campaign.

This feature is a part of CoinDesk's Most Influential 2025 list.

Then a little-known microcap healthcare company, KindlyMD in May announced a merger agreement with Bailey's Nakamoto Holdings, backed by more than $700 million in financing, to start a bitcoin treasury company. Shares in Kindly (then with the ticker KIND, but soon changed to NAKA) soared from around $2 to more than $30 within days. That was the top.

Despite Bailey's campaign of nearly non-stop bull posting on X, NAKA shares fell through spring and summer even as the price of bitcoin rose. With the completion of the merger in mid-August, things got really ugly. As early investors became able to sell their shares about one month later, sell they did. Bailey, in one of the more curious moves ever for a public company CEO, even encouraged it. "For those shareholders who have come looking for a trade, I encourage you to exit," he wrote in a September letter. Exit they did.

Trading at about $0.45 this week, KindlyMD shares are down about 99% from their high and worth about 25% of what they were fetching prior to the merger agreement with Bailey's Nakamoto Holdings.

As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

Tether said it aims to take over popular Italian football club Juventus FC.
The firm proposed to acquire Exor's 65.4% stake in an all-cash offer, and intends to make a public offer for the rest of the shares.
Tether reported net profits exceeding $10 billion this year, while its flagship token USDT is the world's dominant stablecoin with a $186 billion market capitalization.

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