Ex-Ripple CRO Greg Kidd Acquires Know Labs in $100M Deal
The Know Labs and the former Chief Revenue Officer of Ripple, Greg Kidd, announced the successful closing of the $100 million strategic acquisition with Mr. Kidd’s affiliate, Goldeneye 1995 LLC. Upon closing the transaction on August 6, Mr. Kidd was appointed Chief Executive Officer and Chairman of the Board of Directors.Know Labs Will Be Renamed As USBCThe deal closed with Goldeneye contributing 1,000 Bitcoin plus approximately $15 million in cash in exchange for approximately 357.8 million new common shares in Know Labs. Now, on August 15, the company’s legal name will change to USBC along with its ticker symbol, which will change from KNW to USBC. Mr. Kidd stated, “The USBC token is an inclusive, compliant, and programmable digital dollar.” “We believe this approach delivers a new standard for trust and utility in digital money, generating sustainable growth and long-term value creation for our shareholders,” he added. With 81% control purchased in USBC, the company pushes toward a blockchain-based vision centred on the USBC token, which is a blockchain-based programmable U.S. dollar digital currency. It reflects a broader shift of moving toward fintech innovation and a digital dollar ecosystem. New Executive Leadership Team Forms in the USBCLinda Jenkinson has been appointed Vice Chair of the Board.Ron Erickson, who was the founder of Know Labs, will serve as the President of the new division of the company. His role is to provide visionary guidance and strategic oversight. Kirk Chapman has been appointed as Chief Operating Officer. Kitty Payne has been appointed as Chief Financial Officer, who will lead the execution of the Company’s new vision along with Chapman. These leaders will be supported by veteran USBC team members who developed this USBC platform by putting decades of work into technology and finance. The team will also oversee shares of the Company’s common stock, which will continue to trade on the NYSE American under the new name USBC, Inc. (NYSE American: USBC). The CUSIP number will remain unchanged. FAQsWhat is the USBC token? USBC is a blockchain-based programmable digital dollar created by Know Labs (now USBC Inc.), designed as a compliant and inclusive digital currency for sustainable growth. Who acquired Know Labs? Former Ripple CRO Greg Kidd’s Goldeneye 1995 LLC acquired Know Labs for $100M (1,000 BTC + $15M cash), gaining 81% control and rebranding it as USBC. What is Greg Kidd’s role in USBC? Greg Kidd, former Ripple CRO, becomes CEO and Chairman of USBC, leading the company’s shift toward a blockchain-based digital dollar ecosystem. How is USBC different from stablecoins? USBC positions itself as a programmable digital dollar with regulatory compliance built-in, unlike traditional stablecoins, focusing on institutional adoption and long-term value.