Image Image Image Image Image Image Image Image Image Image Image Image

| February 18, 2018

Scroll to top

Top

Michael Archives -

Be like Michael Jordan? Not at Air Force Academy

February 17, 2018 |

Back in the 1990s, it seemed that almost everyone wanted to be like Michael Jordan. But apparently those days are over.
FOX News

Michael Cohen, Trump’s lawyer, says he paid Stormy Daniels $130,000 out of own pocket

February 14, 2018 |

The latest twist in the tangled tale of what happened between President Donald Trump and an adult film star more than a decade ago has taken a new turn Tuesday, with Trump’s longtime personal lawyer claiming that he paid the porn star $ 130,000 out of his own pocket.
FOX News

TMZ

Quincy Jones Wasn’t Lying About Michael Jackson Stealing ‘Billie Jean’

February 8, 2018 |

Michael Jackson straight-up stole his signature hit, “Billie Jean,” from Donna Summer … is what Quincy Jones claims, and it turns out — on this topic, at least — Quincy ain’t so crazy. Here’s how Q broke it down to Vulture …”Michael stole a…

TMZ.com

Disneyland chief Michael Colglazier is promoted to oversee parks in Asia

February 1, 2018 |

Michael Colglazier, who has been president of the Disneyland Resort in Anaheim for the last five years, has been promoted to oversee Walt Disney Co.’s parks in Asia, a strategically vital segment of the company.

The promotion is significant because Disney has invested heavily in its Asia parks,…


L.A. Times – Business

Michael Douglas Accuser Shares Her Story

January 19, 2018 |

The sexual misconduct story that Michael Douglas pre-emptively denied last week is now public. Journalist and author Susan Braudy tells the Hollywood Reporter that the actor subjected her to incessant sexual harassment when she ran the New York office of his Stonebridge Productions company in the late 1980s, including so…
Newser

TMZ

Ex-RNC Chair Michael Steele Down to Help Oprah Run for Prez

January 10, 2018 |

Former RNC Chairman Michael Steele’s so fed up with President Trump, it sounds like he’s ready to switch parties — or maybe he just loves Oprah Winfrey running for Prez that much. Steele was on Capitol Hill Wednesday when we…

TMZ.com

Michael Novogratz $400 Million Bet: Form Giant Crypto Merchant Bank

January 10, 2018 |

Michael Novogratz $  400 Million Bet: Form Giant Crypto Merchant Bank

Billionaire investor Michael Novogratz pulled back from bitcoin toward the end of last year, citing market volatility, and ultimately scrapped his much-anticipated crypto hedge fund as a result. He’s since returned with a market-defining announcement of plans to open a full service crypto merchant bank, which some are describing as the ecosystem’s Goldman Sachs, and he’s betting his entire $ 400 million worth of crypto assets on the ambitious project.

Also read: Bitcoin’s Amazing 9th Birthday!

Michael Novogratz $  400 Million Bet: Form Giant Crypto Merchant Bank

Michael Novogratz is All-In

The new year kicked off with a bang in only its second full week, as Canada-based Bradmer Pharmaceuticals revealed an ambitious partnership with famed investor Michael Novogratz to create what amounts to a crypto merchant bank, Galaxy Digital Holding. Embargoed against US newswires, the cumbersomely announced title, Galaxy Digital, First Coin and Bradmer Pharmaceuticals Announce Business Combination and Establishment of Blockchain, Digital Asset and Cryptocurrency Platform, hit the web on 9 January 2018, timestamped at 08:10 EST.

“The Proposed Transaction will establish Galaxy Digital as a full service, digital assets merchant bank, with distinct trading, asset management, principal investment, and advisory business lines,” the release carried in subtitle. Bradmer, First Coin Capital Corp., and Galaxy Digital will form a merchant bank, publicly listing it on the TSX Venture Exchange, a Canadian electronic trading platform.  

Shortly before Christmas, News.Bitcoin.com reported Mr. Novogratz frosty feet at a double-digit bitcoin price dip, causing him to cancel plans for a historic crypto hedge fund. “We didn’t like market conditions, and we wanted to re-evaluate what we’re doing,” he was quoted as explaining. “I look pretty smart pressing the pause button right now,” he said, emphasis evidently on the word ‘pause.’

Michael Novogratz $  400 Million Bet: Form Giant Crypto Merchant Bank

This Time, It’s Personal

At present, “the personal investing business of Michael Novogratz, Galaxy Digital is undertaking the transaction in order to raise primary capital towards building a best-in-class, full service, institutional-quality merchant banking business in the cryptocurrency and blockchain space,” today’s announcement explained. Mr. Novogratz will be that rare investment bird, one that philosopher Nassim Nicholas Taleb refers to as “skin in the game.” It is perhaps relatively easy to risk someone else’s fortune, and entirely different when it’s yours.

“Galaxy Digital will leverage its deep ties into bitcoin, ethereum and other protocol communities to drive returns from four core business segments,” which will include trading, principal investments such as initial coin offerings, third party asset management, and with First Coin they will establish an advisory, consulting business. Most of the legalities and regulatory hurdles are expected to be completed by the end of the first quarter, using the popular reverse take-over technique (RTO) to avoid expensive initial public offerings. Essentially, all the companies will roll into the new arrangement within Galaxy Digital “under the laws of Cayman Islands.”

Mr. Novogratz “is expected to be the initial Chairman of the board of directors of Bradmer. Further, the board will have committees with charters and memberships consistent with TSX-V requirements,” the announcement explained.

What do you think about a giant crypto merchant bank? Tell us in the comment section below!


Images via Pixabay, Galaxy Digital.


xpress yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com.

The post Michael Novogratz $ 400 Million Bet: Form Giant Crypto Merchant Bank appeared first on Bitcoin News.

Bitcoin News

TMZ

Donald Trump’s Attorney Michael Cohen Sues BuzzFeed Over Russian ‘Dossier’ (UPDATE)

January 10, 2018 |

6:35 PM PT — A spokesperson for BuzzFeed News tells us the dossier is “the subject of active investigations by Congress and intelligence agencies” and is obviously of public interest. The rep says, “This is not the first time Trump’s personal…

TMZ.com

TMZ

Michael Rapaport Slams Donald Trump for ‘Stealing’ Nickname Sloppy Steve Bannon

January 7, 2018 |

Michael Rapaport says Donald Trump ripped off his idea for “Sloppy Steve Bannon,” saying he came up with the nickname a year ago … and he’s got the proof. Mike posted a video Sunday in which he slams Trump for allegedly stealing his OG…

TMZ.com

Michael Wolff Explains How He Got Inside the White House

January 4, 2018 |

The quotes are so incendiary that some are questioning their veracity. But Axios reports Fire and Fury: Inside the Trump White House author Michael Wolff has “dozens of hours” of tapes to back up statements that appear in the book. And in an excerpt running in the Hollywood Reporter , Wolff…
Newser