Know Labs, now rebranded as USBC, has completed a $100 million acquisition deal led by Greg Kidd.
Completion of the Deal and Company Renaming
Know Labs has completed a strategic acquisition, closing a deal valued at $100 million with Goldeneye 1995 LLC, headed by Greg Kidd. The deal was officially closed on August 6, after which Kidd was appointed Chief Executive Officer and Chairman of the Board of Directors. Goldeneye contributed 1,000 Bitcoin and approximately $15 million in cash for about 357.8 million new shares of Know Labs. On August 15, the company will change its legal name to USBC, and its ticker symbol will change from KNW to USBC.
New Executive Leadership Team of USBC
Following the deal, a new leadership team has been formed for USBC. Linda Jenkinson has been appointed Vice Chair of the Board. Ron Erickson, the founder of Know Labs, will serve as the President of the new division of the company, providing strategic oversight. Kirk Chapman has been appointed Chief Operating Officer, while Kitty Payne has assumed the role of Chief Financial Officer. These leaders will be supported by veteran team members who will aid in developing the USBC platform and will oversee the company’s shares, which will continue to trade on NYSE American under the new name USBC, Inc.
Frequently Asked Questions about USBC
USBC is a blockchain-based programmable digital dollar created by Know Labs (now USBC Inc.), designed as a compliant and inclusive digital currency. Greg Kidd, former CRO of Ripple, is now the CEO and Chairman of USBC, leading the company towards a digital dollar ecosystem. USBC differs from traditional stablecoins by positioning itself as a programmable digital dollar with built-in regulatory compliance, focusing on institutional adoption and long-term value.
Know Labs, now USBC, demonstrates an ambitious approach to digital currencies with its new token and leadership team aimed at innovation in fintech and the digital ecosystem.
