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MGT Capital Investments Inc. (MGTI)

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Last Post: 10/26/2016 11:01:18 AM - Followers: 291 - Board type: Free - Posts Today: 11



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" -

MGT changed to MGTI, and delisted from the NYSE Amex to the OTC.:

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MGTI News: MGT Comments on NYSE Delisting; Common Stock to Begin Trading on the OTC Exchange Under Ticker Symbol "MGTI" on October 20th 10/20/2016 09:18:00 AM
MGTI News: John McAfee to be Keynote Speaker at the London Blockchain: Money Conference 10/18/2016 09:15:00 AM
MGTI News: MGT Announces Commercial Release of Sentinel 10/14/2016 09:10:00 AM
MGTI News: MGT Capital Issues Update on D-Vasive Acquisition 10/11/2016 03:10:00 PM
MGTI News: MGT LOSS ALERT: Rosen Law Firm Reminds MGT Capital Investments, Inc. Investors of Important Deadline in Class Action 10/11/2016 12:22:00 PM
#20194  Sticky Note What business operations does MGTI currently have? nodummy 10/20/16 05:34:44 PM
#20508   Any hint as to the upcoming filings? Bitcoin_denial? lineItemVeto 10/26/16 11:01:18 AM
#20507   Blah Blah Blah CTS2016V 10/26/16 10:58:40 AM
#20505   Foreign brokers for MGTI. - "They (MGTI) are pie777 10/26/16 09:20:39 AM
#20502   Is the 10Q due Nov 15th? Probably file extension lineItemVeto 10/26/16 07:38:03 AM
#20499   Down %80 elvisonfire 10/26/16 02:08:28 AM
#20498   Cool, buy another 10k shares. CantonG 10/26/16 01:40:03 AM
#20497   It is going to tank so hard tomorrow. Info_Sec 10/25/16 10:17:13 PM
#20496   "much more likly it is uplisted to NASDAQ" Udder nonsense penknee 10/25/16 10:13:09 PM
#20495   Utter Nonsense and instead of suspension, much more MadHatter326 10/25/16 09:58:52 PM
#20494   Actually, very clear this company is going up shajandr 10/25/16 08:42:59 PM
#20493   Why did it go up at the midday? lineItemVeto 10/25/16 08:33:42 PM
#20491   You think it went down today? Wait until tomorrow. Info_Sec 10/25/16 07:40:31 PM
#20490   Why did it go down at the end? skwong 10/25/16 06:38:07 PM
#20489   Radio silence OlivePennys 10/25/16 05:28:39 PM
#20488   Any BITCOIN filings anywhere? lineItemVeto 10/25/16 04:21:49 PM
#20487   Looking for a downturn again before market close cheche770 10/25/16 03:17:24 PM
#20486   yep -I didn't like that break below 1.40 Atlanta1 10/25/16 03:16:32 PM
#20484   Went through support today cheche770 10/25/16 03:10:17 PM
#20483   It seems MGT is busy with some creative lies. Info_Sec 10/25/16 02:03:01 PM
#20482   seems to be a bit of spit-swapping going Atlanta1 10/25/16 01:37:10 PM
#20481   Seems Eijah is having some second thoughts. Info_Sec 10/25/16 01:26:33 PM
#20480   MGTI pure manipulation by market makers. pie777 10/25/16 01:21:48 PM
#20479   Going up and green like clockwork, best BITCOIN CantonG 10/25/16 01:04:36 PM
#20478   Unscrupulous_individuals luring novice_investors into a sure_losing proposition, lineItemVeto 10/25/16 12:54:23 PM
#20477   MGTI UNDER SEC INVESTIGATION. pie777 10/25/16 12:43:58 PM
#20475   LMAO, never the whole story? .25 to MadHatter326 10/25/16 12:34:29 PM
#20473   looks like that expected steady crawl higher could Atlanta1 10/25/16 12:23:49 PM
#20472   $1.45 PPS marked down from $5.00 lineItemVeto 10/25/16 12:14:43 PM
#20471   Actually, very clear this company is going up, MadHatter326 10/25/16 12:04:47 PM
#20470   Yea, this play has always relied on misinformation lineItemVeto 10/25/16 11:45:18 AM
#20469   Very clear this company is going down, coming soon. lineItemVeto 10/25/16 11:41:05 AM
#20468   It's not a PR, so it won't exhibit Atlanta1 10/25/16 11:40:25 AM
#20465   NO VOLUME cheche770 10/25/16 11:36:01 AM
#20463   simply studying the link i provided would provide lucky,mydog 10/25/16 11:18:15 AM
#20462   LMAO, please provide a link that states otherwise? MadHatter326 10/25/16 11:13:20 AM
#20461   Ladd is not respecting the SEC, and is pie777 10/25/16 11:13:18 AM
#20460   looks like the market is starting to react.. Atlanta1 10/25/16 11:11:04 AM
#20459   lol. no, it's the same. these guys are lucky,mydog 10/25/16 11:03:13 AM
#20458   nope. totally different situation. Atlanta1 10/25/16 10:55:16 AM
#20457   that was just now posted on the MGTI website. Atlanta1 10/25/16 10:54:00 AM
#20456   and cannot find another similar case where such lucky,mydog 10/25/16 10:52:17 AM
#20455   October 25, 2016 Atlanta1 10/25/16 10:48:27 AM
#20454   It will have trouble staying green today cheche770 10/25/16 10:27:27 AM
#20453   well, looks like she stopped in the $1.30's, Atlanta1 10/25/16 10:26:36 AM
#20452   Down she blows cheche770 10/25/16 10:17:51 AM
#20450   What updated from Tiffany? Please share it with us. skwong 10/25/16 09:59:44 AM
#20449   $1.50 acting a little stubborn. once we break Atlanta1 10/25/16 09:49:29 AM
#20448   LOL That's enterprise pricing. Atlanta1 10/25/16 09:13:31 AM
#20446   10 best anti-hacking software for Windows-10 pie777 10/25/16 09:10:02 AM
#20445   $1.45 x 1.50 Atlanta1 10/25/16 09:04:31 AM