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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."
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MGT News: John McAfee at the China Internet Security Conference 2016 08/18/2016 09:35:00 AM
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MGT News: MGT Provides Quarterly Corporate Update 08/16/2016 09:00:00 AM
MGT News: MGT Capital Files Definitive Proxy for Upcoming Shareholder Meeting 08/15/2016 05:57:00 PM
MGT News: Quarterly Report (10-q) 08/15/2016 05:19:30 PM
#17007   ;pics of the cooling system WERE shown , rabbit67 08/27/16 08:14:03 PM
#17006   ;pics of the cooling system WERE shown , rabbit67 08/27/16 08:14:02 PM
#17005   Countries also got Trump on the ballot, a md3423 08/27/16 05:15:48 PM
#17003   John Mcafee has proven himself to be totally lineItemVeto 08/27/16 04:35:34 PM
#17002   Why McAfee did show them and you failed CantonG 08/27/16 04:25:54 PM
#17001   Bro, I've been wondering the same thing. pie777 08/27/16 04:24:27 PM
#17000   No pics outdoors. No pics of the CantonG 08/27/16 03:27:52 PM
#16999   John McAfee is angry that I get more Info_Sec 08/27/16 03:09:31 PM
#16997   Most of us know someone like is StockJunky 08/27/16 02:27:55 PM
#16996   Thanks please confirm when it drops I'm still dcortel 08/27/16 02:18:34 PM
#16995   Gringo: The Dangerous life of John McAfee Info_Sec 08/27/16 01:56:28 PM
#16994   Take a careful look. It's the same picture pie777 08/27/16 01:38:55 PM
#16993   Doesn't show anything remotely looking like Johns post CantonG 08/27/16 01:27:07 PM
#16992   Here are 2 links. pie777 08/27/16 01:20:09 PM
#16991   Still waiting. Do you have that link? Showing CantonG 08/27/16 01:12:55 PM
#16989   Link to pictures from other companies web pages. CantonG 08/27/16 01:08:39 PM
#16988   It's all a lie. There is no bitcoin pie777 08/27/16 01:06:15 PM
#16987   He made the statement , he got noticed . CTS2016V 08/27/16 12:43:25 PM
#16986   The iPhone timeline of lies. Info_Sec 08/27/16 11:53:00 AM
#16985   iH?azC?andy? on Twitter: "@abuse can it be any dcortel 08/27/16 11:45:14 AM
#16984   What does this have to do with John CantonG 08/27/16 11:43:51 AM
#16983   John McAfee better prepare to eat a shoe Info_Sec 08/27/16 11:34:24 AM
#16982   listen to the interview Please : CTS2016V 08/27/16 11:29:33 AM
#16981   ihaz my due diligence all ready. Info_Sec 08/27/16 11:16:47 AM
#16980   here's the SEC contact : CTS2016V 08/27/16 11:04:21 AM
#16978   MARS CTS2016V 08/27/16 10:46:37 AM
#16977   MGT = $$$ hobowilly 08/27/16 07:23:50 AM
#16976   Ah yes, let's not forget the iPhone Lies. Info_Sec 08/26/16 08:24:02 PM
#16975   GO MGT! See you at $ 133.00 MojoTrader 08/26/16 08:19:18 PM
#16974   Sometimes I Wish He Stayed as The Libertarian Candidate... StockJunky 08/26/16 07:43:49 PM
#16973   What connection does JM have with bitcoin? What lineItemVeto 08/26/16 05:35:18 PM
#16970   I'll bite. PreservedSwine 08/26/16 04:51:26 PM
#16969   MGT deleted March 9, 2016 PRNewswire from their Info_Sec 08/26/16 04:36:18 PM
#16967   Two questions: PreservedSwine 08/26/16 03:53:22 PM
#16966   The way MGT is manipulated above $3.00, it lineItemVeto 08/26/16 03:41:18 PM
#16965   Folks...Is this Jas 08/26/16 02:45:55 PM
#16963   Take off John's story, and replace the phony pie777 08/26/16 02:13:23 PM
#16959   Where was the SEC when Enron was doing pie777 08/26/16 01:55:29 PM
#16957   McAfee's story is like bad saturday night live pie777 08/26/16 01:46:35 PM
#16956   Pumping a bogus stock for cash is theft. Info_Sec 08/26/16 01:44:52 PM
#16955   McAfee's past is what it is. Fortunately for PreservedSwine 08/26/16 01:34:26 PM
#16954   "Those who don't know history are doomed to pie777 08/26/16 01:32:53 PM
#16952   If this was the 80's, one would be pie777 08/26/16 01:22:19 PM
#16947   Exactly! Great post! CantonG 08/26/16 12:49:10 PM
#16946   But you have to remember, Kimdotcom wanted ownership PreservedSwine 08/26/16 12:45:36 PM
#16945   Kim Dotcom has suggested some serious insider trading pie777 08/26/16 11:45:40 AM
#16943   These big swings really shows MGT adding to pie777 08/26/16 11:23:04 AM
#16942   Dubious Claims Cloud John McAfee's Chadder Message App Info_Sec 08/26/16 11:19:34 AM
#16941   Was at 3.28 with MOMO then knocked down cheche770 08/26/16 11:10:08 AM
#16940   According to the proxy, a reverse split would PreservedSwine 08/26/16 10:28:40 AM