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MGT Capital Investments INC (MGT)

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TeraExchange recently launched the first and only U.S. regulated trading platform for bitcoin swap contracts. By offering a bitcoin derivative product with regulatory structure and controls, TeraExchange created an exciting opportunity for institutional investors to confidently participate in bitcoin the marketplace



HARRISON, N.Y., Feb. 27, 2015 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that it has entered into a Letter of Intent ("LOI") with Tera Group, Inc., ("Tera") owner of TeraExchange, LLC, a Swap Execution Facility regulated by the Commodity Futures Trading Commission ("CFTC").  Pursuant to the LOI, both companies will work diligently to finalize and execute a definitive agreement by March 16, 2015.

MGT will then file a combination S-4 Prospectus and Proxy Statement with the Securities and Exchange Commission.  Under the contemplated terms of the agreement, and subject to stockholder approval, MGT will issue shares of its common stock to the current owners of Tera, representing 70% of the pro forma equity of the combined companies at closing.

Tera has played a leading role in the development of bitcoin derivatives. In September 2014, Tera launched on TeraExchange the first regulated Bitcoin derivative products, and a spot Bitcoin price index.  Trading of USD/Bitcoin derivatives is subject to the rules and regulations of TeraExchange and the CFTC.  The Tera Bitcoin Price Index ("TeraBit") employs a dynamic algorithm that compiles and filters data on a real-time basis from a number of widely utilized global Bitcoin spot exchanges.  The TeraBit Index will be used as the settlement rate for USD/Bitcoin derivatives transactions.  

"Growing consumer and merchant adoption of bitcoin is driving demand for regulated capital markets solutions. By combining with MGT, Tera will create a unique public offering to support the essential infrastructure needed for a vibrant global bitcoin ecosystem," said Christian D. Martin, Chairman, Chief Executive Officer and Co-Founder of Tera.

"The proposed merger with Tera gives immediate and future value to our stockholders, while creating a robust platform for the growth of the industry's first publicly listed bitcoin derivatives exchange," said H. Robert Holmes, Chairman of MGT's board of directors, "The Bitcoin industry attracted over $400 million of investment capital from some of the world's most prominent investors over the past 12 months; we see our move today as further progress in the broader adoption of the industry."

Tera is led by a talented management team with a combined 47 years of experience in capital markets and derivative products, 43 years in legal and regulatory, and 46 years in technology development and engineering.

Mr. Martin spent more than 20 years in senior trading and management positions at Merrill Lynch and Bank of America, where he was responsible for global trading desks of interest rates, credit, and financing - securities lending transactions.

President, COO and Co-Founder Leonard T. Nuara was formerly a shareholder in the international law firm of Greenberg Traurig LLP.  Prior to that, he was Chair of the Technology and Intellectual Property Group at Thacher Proffitt & Wood LLP.  He is a nationally recognized leader in the technology and intellectual property fields.

Chief Commercial Officer John Maguire spent 18 years at Goldman Sachs, where he held various roles, including interest rate and cross asset derivative sales, marketing, and business development. Mr. Maguire is also the former Global Head of Trading at Bridgewater Associates, the largest hedge fund in the world.

Source Capital Group, Inc. acted as sole financial advisor to Tera Group.

About MGT Capital Investments, Inc.
MGT Capital and its subsidiaries operate social and real money gaming sites online and in the mobile space, including ownership of the 3rd largest daily fantasy sports wagering platform,  The Company also offers games of skill through and social casino games with SlotChamp™, and also operates an online portal for fantasy sports news and commentary,  MGT also launched Daily Fantasy Legend in partnership with Facebook to become the First Daily Fantasy Platform on Social Media.  In addition, the Company owns intellectual property relating to slot machines and has asserted its claims via patent infringement lawsuits.

About Tera Group, Inc.
Tera Group owns TeraExchange LLC, a Swap Execution Facility (SEF) regulated by the Commodity Futures Trading Commission and provides market participants with access to Bitcoin derivatives, interest rate swaps, credit default swaps and non-deliverable forwards.  TeraExchange is a global pioneer in the derivatives marketplace and provides a multi-asset class platform for trading of an array of financial instruments.
















"On Tuesday, McAfee told CNNMoney he's lost everything. Only a tiny fraction of his one-time $100 million net worth survived the 2008 market crash. But his fortunes really took a hit in 2012, when McAfee fled Belize police who aggressively sought him for questioning on the death of his neighbor.

The government raided his jungle compound and seized everything inside. The buildings on McAfee's property later burned down under suspicious circumstances.

"Everything I owned was in Belize. I left with nothing in my pocket," he said.

McAfee said most of his remaining riches were in the vast art collection he left behind. He claims that the Belize government auctioned off many of his belongings, but his art pieces never showed up.

McAfee is now living in an apartment in Montreal, Canada, with his wife Janice. He's getting by on consulting work -- shelling out advice to firms on acquisitions, technology and internal restructuring."

Actual unretouched selfie of John McAfee - seriously!

"Known for his outspokenness and getting himself into a spot of trouble, John McAfee is certainly a colourful character in the tech industry. Since he became a suspect in the death of his neighbour in Belize back in 2012, McAfee has been arrested for driving under the influence with a handgun, revealed he is running for President, and released a bizarre video featuring scantily clad women, ‘bath salts’ and a guide on how to uninstall McAfee Antivirus." -

Trailer for Showtime documentary "Gringo: The Dangerous Life of John McAfee" -

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MGT News: SHAREHOLDER ALERT: Goldberg Law PC Announces Securities Class Action Lawsuit against MGT Capital Investments, Inc. & Encourag... 09/26/2016 04:15:00 PM
MGT News: EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against MGT Capital Investments, Inc. 09/26/2016 01:38:00 PM
MGT News: SHAREHOLDER ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against MGT Capital Investments, Inc. & Encourages... 09/26/2016 12:27:00 PM
MGT News: SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against MGT Capital Investments, Inc... 09/26/2016 10:10:00 AM
MGT News: IMPORTANT SHAREHOLDER ALERT: Khang & Khang LLP Announces the Filing of a Securities Class Action Lawsuit against MGT Capital ... 09/23/2016 08:37:00 PM
#18771   . pie777 09/28/16 02:18:31 PM
#18770   Yes, two dead men who crossed John's path Info_Sec 09/28/16 02:16:02 PM
#18768   David Milton robbed John Mcafee house in Belize. pie777 09/28/16 02:05:38 PM
#18766   Facebook Live: Director of 'Gringo: The Dangerous Life Info_Sec 09/28/16 12:40:56 PM
#18764   Info_Sec, lots of good info, much new stuff. lineItemVeto 09/28/16 12:23:08 PM
#18760   Two former John McAfee insiders believe their whistle-blowing Info_Sec 09/28/16 11:22:56 AM
#18759   Gringo = FAIL!!! MadHatter326 09/28/16 10:37:42 AM
#18758   Review - Grade: B smokie622 09/28/16 10:12:31 AM
#18757   Trading in a channel until something concrete occurs. hobowilly 09/28/16 09:59:28 AM
#18756   Up from .25, tons of flips, 15 or md3423 09/28/16 08:05:16 AM
#18755   yes, if a investor bet "short term" it hobowilly 09/28/16 06:11:52 AM
#18754   yes, if a investor bet "short term" it hobowilly 09/28/16 04:18:07 AM
#18753   Lol...whatever..thats a huge haircut...not a fluctuation in pps...its elvisonfire 09/28/16 04:13:36 AM
#18752   The point has been made that the short hobowilly 09/28/16 04:12:07 AM
#18751   Down from 4 dollars to 2 dollars in elvisonfire 09/28/16 04:10:09 AM
#18749   Did John Mc stop tweeting on the 26th? lineItemVeto 09/28/16 02:04:11 AM
#18748   Actually The documentary is a huge success. Info_Sec 09/28/16 01:55:28 AM
#18747   MGT Capital Investments INC (MGT) hobowilly 09/28/16 01:44:54 AM
#18746   Yes there seems to be a hole in Info_Sec 09/28/16 01:33:54 AM
#18745   McAfee's in charge of nothing except saying and lineItemVeto 09/28/16 01:19:07 AM
#18744   Hint. Go back and listen to the CC. MadHatter326 09/28/16 01:16:52 AM
#18743   It makes a difference. The whole thrust of lineItemVeto 09/28/16 01:14:18 AM
#18742   You're the one who replied to me. I penknee 09/28/16 01:11:39 AM
#18741   What difference does it make whether official or MadHatter326 09/28/16 01:10:25 AM
#18740   But not the CEO. penknee 09/28/16 12:58:41 AM
#18739   He is in charge. FACT! MadHatter326 09/28/16 12:22:43 AM
#18738   I never said that. I just said he penknee 09/28/16 12:22:00 AM
#18737   Yeah, u keep saying that but does not MadHatter326 09/28/16 12:21:19 AM
#18736   In case any thinks McAfee is the CEO: "McAfee’s penknee 09/27/16 11:43:47 PM
#18735   Yeah you keep saying that, doesn't mean he's penknee 09/27/16 11:41:24 PM
#18734   Why deny that he is in charge? MadHatter326 09/27/16 11:40:47 PM
#18733   He's not the CEO so why would he penknee 09/27/16 11:09:35 PM
#18732   Same as the old boss lineItemVeto 09/27/16 11:02:15 PM
#18731   Never was there bro. CantonG 09/27/16 10:43:28 PM
#18730   'Info_Sec', wow I see. JM was there the pennyvestor 09/27/16 10:39:50 PM
#18729   John McAfee was on this page and now Info_Sec 09/27/16 10:02:08 PM
#18728   Seems very clear Smear campaign has failed! Lolzzzzz MadHatter326 09/27/16 09:55:45 PM
#18727   No, investors saw right through the fake, lame MadHatter326 09/27/16 09:52:08 PM
#18726   We could get that confirmed any day now. MadHatter326 09/27/16 09:50:31 PM
#18725   So John has become a liability? Would the lineItemVeto 09/27/16 09:49:22 PM
#18724   Thinking he is not calling the shots as MadHatter326 09/27/16 09:49:10 PM
#18721 Gone Bro. Info_Sec 09/27/16 09:20:57 PM
#18720 Second sentence bro. WaterboyII 09/27/16 09:19:03 PM
#18719   Surprisingly it still says he's the CEO on penknee 09/27/16 09:03:29 PM
#18718   John McAfee Name removed from MGT Website and Info_Sec 09/27/16 08:40:32 PM
#18717   You and I disagree on the slander and lineItemVeto 09/27/16 08:09:38 PM
#18716   I already said that. No one G8rtr8r 09/27/16 07:20:28 PM
#18715   Epic failure if dropping MGT price was CantonG 09/27/16 06:52:02 PM
#18714   Documentary was likely much closer to truth than lineItemVeto 09/27/16 06:30:13 PM
#18713   Guess the first cut was so chocked full MadHatter326 09/27/16 06:07:29 PM