Ex-Ripple Executive Takes Control of Know Labs, Plans Bitcoin Treasury Approach
Greg Kidd, who previously served as Chief Risk Officer at Ripple, is set to take majority ownership of Know Labs, a company that develops medical devices for non-invasive health monitoring. Kidd will step in as CEO and Chairman, leading the company as it integrates Bitcoin into its treasury strategy, making the cryptocurrency a central financial asset.
Know Labs is recognised for its technology that allows health monitoring without needles or invasive procedures. The acquisition will be made through Goldeneye 1995 LLC, an entity connected to Kidd. Once completed, Kidd will guide the company’s direction, including its new focus on digital assets.
Image 1: (Source: Business Wire)
Acquisition Details and Financial Structure
The deal involves a combination of Bitcoin and cash. Kidd’s group will purchase shares by contributing 1,000 Bitcoins alongside cash used to pay down existing debt, redeem preferred equity, and fund ongoing operations. The total value of Bitcoin plus cash will determine the number of shares acquired, priced at 33.5 cents each.
Bringing Bitcoin onto Know Labs’ balance sheet allows shareholders to gain exposure to the cryptocurrency simply by holding company stock. Kidd and his team, experienced in digital assets and Bitcoin income strategies, plan to leverage their expertise in this new public company setting.
This move comes at a time when market conditions and regulations are favourable for cryptocurrencies. Kidd sees this strategy as a way to promote steady growth and build long-term value for investors by positioning Bitcoin as a core asset of the company.
Image 2: (Source: Know Labs)
Valuation and Leadership Transition
Financially, Bitcoin will make up a significant portion of Know Labs’ value after the acquisition. Assuming a Bitcoin price of $105,000, the 1,000 Bitcoins will represent roughly 82% of the company’s $128 million market capitalisation at closing. The company’s valuation relative to its net Bitcoin assets (known as the mNAV multiple) is estimated at 1.22, reflecting how the market values the company compared to the value of its digital holdings.
Alongside Kidd’s appointment, founder Ron Erickson will remain actively involved. Erickson will lead a newly formed division dedicated to continuing the company’s medical research and will become Vice Chairman of the Board once the deal closes. Erickson sees this partnership as a key moment to accelerate Know Labs’ innovation and growth prospects.
The Know Labs board has unanimously approved the deal, which is expected to finalise in the third quarter of 2025, pending shareholder approval and usual closing conditions.
Greg Kidd is well known in the fintech and crypto sectors. He co-founded a venture capital firm called Hard Yaka and is the majority owner of Vast Bank, which operates under a federal banking charter. Over the years, Kidd has invested early in several influential tech companies, including Twitter, Square (now Block), Coinbase, Robinhood, and Solana.
His career also includes work at Booz Allen Hamilton, managing a public company, and holding positions at the Federal Reserve in the payments division. Kidd served as Chief Risk Officer at Ripple, giving him deep insight into cryptocurrency markets. He holds degrees from Brown University, Yale University (MBA), and Harvard Kennedy School (MPA). Recently, Kidd ran as an independent candidate for Congress in Nevada.
Read Also: Brazil Targets Crypto Taxation Amid Push to Raise Financial Revenue
Business Strategy and Growth Plans
The choice to bring Bitcoin into Know Labs’ treasury follows a growing trend where companies look to diversify their assets by holding cryptocurrencies. This strategy aims to tap into Bitcoin’s potential growth while supporting the company’s core operations.
By adopting this approach, Know Labs positions itself at the intersection of healthcare innovation and the expanding crypto economy. It may serve as a model for other companies considering cryptocurrencies as part of their financial strategy.
