Fundraising for a crypto and blockchain TV channel

[ad_1]

With cryptos and the metaverse becoming the hot topic of news, everyone is looking for ways to get out of the game. Phil Falcone, a former billionaire, wants to raise funds for the creation of a crypto television channel. Simple utopia or concrete project ?

create a crypto tv channel

Who is Falcone, the man behind the project?

Every day we see new data emerging in the crypto and blockchain universe. With the expansion of Metaverse, everyone wants to get the most out of the game and take advantage of the interests the industry has to offer. While NFT collections are increasingly mind-blowing, some, like Phil Falcone, take that passion even further. Indeed, he would be seeking funding to create a television channel dedicated solely to cryptocurrencies and blockchain.

Phil Falcone is a former hedge fund magnate who became famous by shorting the housing markets. Thanks to this action, he amassed a fortune of about 2 billion dollars. Unfortunately, he has reportedly wasted most of his fortune in the last ten years.

However, after the fall, the latter seeks a way to return to center stage. According to the news from New York PostFalcone wants to capitalize on the crypto boom to get back on its feet financially. And how ? Creation of a crypto TV channel.

To realize his project, he presents the idea of ​​Blockchain TV to investors in hopes of obtaining the necessary funds to support the creation of a television channel entirely dedicated to crypto. And he sought out former hedge fund boss Charlie Walk to attract as many investors as possible and sell his concept. They have been working together since January.

Phil Falcone

Create a TV space dedicated entirely to crypto

The idea for this concept comes from the fact that cryptos are not enough on television. So far, major funders, in this case Bloomberg, have said little about digital assets. And when they do, it’s to showcase the prices of major cryptos like bitcoin.

As a result, the rest of the ecosystem is thrown into the background and therefore little is known. According to Falcone, the world needs a medium to cover digital assets around the clock: a television channel dedicated to the Web3, the metaverse, NFTs and cryptocurrencies.

Setting up a crypto TV channel can be just a blessing, as the only way digital asset supporters can keep up to date with market movements is to turn to social media. According to the website, which incidentally provides few details, the channel will launch in the third quarter of 2022.

Since 2020, the former hedge fund magnate has started buying broadcast stations under the name Madison Technologies. Renamed last year, GoTV reportedly has channels in Houston, Los Angeles, and Seattle.

A concept marked by its creator’s troubled past

For many people, starting a crypto TV channel is a way to make more money for Falcone. according to some Comments on Twitter, it would just be embarrassing because it was completely unrelated to helping people learn about the movements of the crypto industry. The only thing that interests him is to increase his wealth.

Recall that in 2012 the US Financial Assets Regulatory Commission (SEC) accused Falcone’s hedge fund firm Harbinger Capital Partners and himself in real estate securities fraud. According to the agency, the latter would have used 113 million of fund assets to pay their taxes.

He is also accused of making other financial mistakes. As a matter of fact, the institution accuses it of buying illegal stocks during the IPO after short selling the same security for a while. Added to this is the accusation, once again, of illegal “short-pressing” to manipulate bond prices.

The 59-year-old former billionaire is also being sued by the State of New York. Indeed, the latter owes a total of 12 million retroactive taxes. Torn between selling some of his properties and assets in recent years, Falcone must find other ways to rebuild his fortune.

Cryptography has many areas of interest. Among other things, an effective way to make money. It might be a good idea to raise funds for the creation of a crypto television channel founded by Phil Falcone. However, the project has been tainted by the latter’s distrustfully troubled past. In addition to being the target of numerous accusations, the community he says he wants to help does not see his project well.

Source: Cryptopotato

Get a recap of news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!

User Picture

Eddy Senga

The world is changing and harmony is the best weapon for survival in this volatile universe. Basically as a crypto community administrator, I am interested in anything directly or indirectly related to the blockchain and its derivatives. There is nothing better to share my experiences and introduce a field that fascinates me than to write articles that are informative and comforting at the same time.



[ad_2]

Source link

Leave a Comment

Your email address will not be published.