{"id":448725,"date":"2022-05-18T01:18:58","date_gmt":"2022-05-17T22:18:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/disgraced-hedge-fund-tycoon-phil-falcone-raising-money-for-crypto-tv-network\/"},"modified":"2022-05-18T01:18:58","modified_gmt":"2022-05-17T22:18:58","slug":"disgraced-hedge-fund-tycoon-phil-falcone-raising-money-for-crypto-tv-network","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/disgraced-hedge-fund-tycoon-phil-falcone-raising-money-for-crypto-tv-network\/","title":{"rendered":"#Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3fa895a11d8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3fa895a11d8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/disgraced-hedge-fund-tycoon-phil-falcone-raising-money-for-crypto-tv-network\/#%E2%80%9CDisgraced_hedge_fund_tycoon_Phil_Falcone_raising_money_for_crypto_TV_network%E2%80%9D\" >&#8220;Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDisgraced_hedge_fund_tycoon_Phil_Falcone_raising_money_for_crypto_TV_network%E2%80%9D\"><\/span>&#8220;Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Phil Falcone is angling to profit from TV coverage of crypto assets \u2014 an oddball bid to reverse a decade-long slide from being a billionaire to pleading that he\u2019s broke.<\/p>\n<p>The fallen hedge fund star \u2014 who amassed a $2 billion fortune from shorting the housing market before squandering the riches over the past 10 years  \u2014  is actively pitching investors on something called<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blockchain.tv\/\"> Blockchain.TV,<\/a> The Post has learned.<\/p>\n<p>The Harvard-educated moneyman has been forced to sell everything from the fancy furnishings at his Upper East Side townhouse to artwork and even his Hamptons estate in recent years to pay off his roughly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/how-to-lose-2-billion-in-10-years-unpaid-bills-pile-up-for-former-hedge-fund-star-11639051201\">$100 million debt<\/a>. <\/p>\n<p>Falcone, 59, is being sued by New York State for $12 million in back taxes and told the judge \u2014 while representing himself \u2014 that he was so str<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed for cash he couldn\u2019t pay for his mortgages, his daughters\u2019 tuition or even an attorney. He also owes Melody Business Finance $74 million after the company lent him money to buy properties.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/lisa-phil-philip-falcone-2.jpg?w=1024\" alt=\"lisa marie and phil falcone\" class=\"wp-image-22259477\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/lisa-phil-philip-falcone-2.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/lisa-phil-philip-falcone-2.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/lisa-phil-philip-falcone-2.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Lisa Marie and Phil Falcone were fixtures on the New York party scene.<\/figcaption><figcaption><span class=\"credit\">Patrick McMullan via Getty Image<\/span><\/figcaption><\/figure>\n<p>For his latest gamble, Falcone enlisted Charlie Walk, the former music executive who was ousted from his perch at Republic Records in 2018, with helping him pitch the idea and bring in investors since January, people with direct knowledge say.<\/p>\n<p>However, he has yet to raise the necessary funds to actually launch the platform. He\u2019s been vague on the details of how much he is looking to raise and how much he has raised, sources told The Post.<\/p>\n<p>In a comment to The Post, Falcone said there was a \u201cquiet period\u201d and he was not able to discuss the crypto network. Typically, a quiet period happens before a company goes public \u2014 but Falcone said there was no plan for the company to go public.<\/p>\n<p>When The Post reached out to Walk for comment, he merely asked \u201cCan we help you?\u201d before going dark.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/phil-falcone-harbinger-swizz-beatz.jpg?w=1024\" alt=\"phil falcone\" class=\"wp-image-22124106\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/phil-falcone-harbinger-swizz-beatz.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/phil-falcone-harbinger-swizz-beatz.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/phil-falcone-harbinger-swizz-beatz.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Phil Falcone is actively pitching investors on his newest business idea: Blockchain.TV.<\/figcaption><figcaption><span class=\"credit\">Fernando Leon<\/span><\/figcaption><\/figure>\n<p>According to people familiar with Falcone\u2019s pitch, the Minnesota native believes the world needs a 24-hour network exclusively devoted to covering cryptocurrencies, NFTs, and Web3 \u2014 and he wants to be the one to make it happen.<\/p>\n<p>The nascent network\u2019s website is scant on details. The only description of the service says it is \u201cDedicated to the digital space, Blockchain.TV is launching in the third quarter of 2022, bringing breaking <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, entertainment, and trending digital activity about Crypto, Web3, and the Metaverse.\u201d<\/p>\n<p>Of course, given cryptocurrencies have cratered as Bitcoin plummets to less than $30,000 from an all-time high of more than $68,000 \u2014 the network may be an even tougher sell at the moment.<\/p>\n<p>His push for Blockchain.TV dovetails with another venture he started in 2020 when he quietly began buying up broadcast stations under the name Madison Technologies, which  was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/go.tv\/madison-technologies-changes-name-to-go-tv-ushers-in-new-age-of-free-ota-content\/\">rebranded <\/a>to Go.TV last year. <\/p>\n<p>Through Go.TV, he snapped up several \u201clow-power\u201d broadcasting channels \u2013 which have a smaller radius than \u201cfull-power stations\u201d but can send signals over-the-air to target the growing number of cord-cutters. Falcone owns channels in LA, Seattle, and Houston, reports say.<\/p>\n<p>Go.TV, which describes itself as the \u201cfirst Mobile Over-the-Air Free TV Network\u201d on its website, doesn\u2019t explain exactly what that means or when it will launch. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"726\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/charlie-walk-republic-records.jpg?w=1024\" alt=\"charlie walk\" class=\"wp-image-22124125\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/charlie-walk-republic-records.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/charlie-walk-republic-records.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/charlie-walk-republic-records.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Former music executive Charlie Walk is working with Falcone on the idea.<\/figcaption><figcaption><span class=\"credit\">Richard Shotwell\/Invision\/AP<\/span><\/figcaption><\/figure>\n<p>However, people with knowledge say Falcone\u2019s acquisition of TV stations could play into Blockchain.TV \u2014 so users could watch crypto coverage online and on traditional cable channels as well. <\/p>\n<p>Just last month The Post reported the former hedge fund manager was selling not just his real estate, but his furniture in order to scrounge together enough money to stay afloat.<\/p>\n<p>He is suing private equity giant Apollo for $2 billion, claiming the firm defrauded him by getting him to invest in now-defunct telecommunications company LightSquared, Inc.<\/p>\n<p>Falcone and his wife former actress Lisa Marie have two twin 16 year old daughters. The family still lives in Manhattan although The Post could not determine where their current residence is.<\/p>\n<p>Over the years, Lisa Marie has made headlines for using the n-word and getting arrested for drunk driving.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/17\/disgraced-hedge-fund-tycoon-phil-falcone-raising-money-for-crypto-tv-network\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network&#8221; Phil Falcone is angling to profit from TV coverage of crypto assets \u2014 an oddball bid to reverse a decade-long slide from being a billionaire to pleading that he\u2019s broke. The fallen hedge fund star \u2014 who amassed a $2 billion fortune from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":448726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/phil-falcone-harbinger-capital-partners.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129258,76127,71070,106544,94794],"class_list":["post-448725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-17-22","tag-cryptocurrency","tag-hedge-funds","tag-on-the-money","tag-phil-falcone"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/448725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=448725"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/448725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/448726"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=448725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=448725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=448725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}