Aside from questions about Lichtenstein’s competence, the circumstances of the confession remain murky. The U.S. Department of Justice did not charge Morgan and Lichtenstein, who Morgan sometimes affectionately referred to as “Dutchie,” with the hack itself, only with attempts to launder the stolen funds. Source
Bitcoin (BTC) mining company Greenidge Generation has significantly reduced its debt with the investment management firm, New York Digital Investment Group (NYDIG). On Jan. 30, Greenidge entered into several agreements associated with its secured debt with NYDIG, transferring ownership of Bitcoin mining hardware and certain credits to NYDIG. The transaction reduced the principal and accrued interest balance of debt with NYDIG from about $76 million to roughly $17 million, resulting in total aggregate debt reduction of around $59 million. One of the agreements, the senior secured loan agreement, also enables…
Financial services platform B. Riley has offered Bitcoin (BTC) miner Core Scientific $72 million in financing to avoid bankruptcy and preserve value for Core Scientific stakeholders. B. Riley, a top lender to Core Scientific with $42 million in loans currently outstanding, outlined the terms of the financing agreement in a Dec. 14 letter noting it’s prepared to fund the first $40 million “immediately, with zero contingencies.” The finance platform suggested the remaining $32 million would be conditional on the BTC miner suspending all payments to equipment lenders while Bitcoin prices…
B Riley said it is prepared to fund the first $40 million of the new financing immediately, with “zero contingencies.” The remainder of the financing is contingent on all principal payments to equipment lenders being suspended at bitcoin prices of $18,500 and below. Above that threshold, however, free cash flow from operations will be distributed to equipment lenders. Source
The liquidity provider, which closed the funding in September, had minimal exposure to the collapsed exchange. Source
The new VC crypto fund managed by Glenn Hutchins has already raised $72 million with investments coming from popular personalities of diverse industries. So far, the fund has already invested in seven startups within the space. On Thursday, February 4, Travis Scher, the former vice president of investments at Digital Currency Group (DCG) announced a new crypto VC fund backed by billionaire investors like Paul Tudor Jones as well popular hip-hop personalities like LL cool J. More importantly, it also has investors like Silver Lake Partners co-founder Glenn Hutchins. Details of…
Several high-profile figures in finance and entertainment are reportedly backing a new venture capital crypto fund from former Digital Currency Group investor Travis Scher, Silver Lake Partners co-founder Glenn Hutchins, and his son James Hutchins. According to a report from Yahoo Finance, the crypto fund has raised roughly $72 million from investors including Paul Tudor Jones, rapper and actor LL Cool J, and former PepsiCo CEO Indra Nooyi. The Hutchins father and son team along with Scher will manage the fund through the New York-based company North Island Ventures. “We…
A UK IT engineer who mistakenly threw away a hard drive with around £210 million ($288 million) of bitcoin on it is applying to the local government to search wasteland for the device. Read more: UK Treasury Calls for Feedback on Approach to Cryptocurrency and Stablecoin Regulation Original
James Howells, the owner of a discarded hard drive with 7,500 Bitcoin (BTC), has made a fresh plea to excavate a landfill site and possibly recover the device. Back in 2013, Howells accidentally threw away a hard drive containing 7,500 BTC while cleaning his house. The Bitcoin stash came from Howell’s mining activity back when it was still possible to use CPUs to mine Bitcoin/ By November 2013, the Bitcoin in the hard drive was already worth $6.5 million and Howell has been trying to recover it ever since. Now,…