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Falcone has signed up Charlie Walk, a renowned musician, to help pitch his project to prospective investors.
Phil Falcone is looking for funding to pump a new TV network venture involving cryptocurrencies and blockchain. The former billionaire hedge fund tycoon angles to profit from TV coverage by leveraging the crypto industry, filling a void market gap.
Falcone’s climb to fame was him shorting the housing markets and amassing wealth up to $2 billion, however, his fortunes have taken a nosedive in the last 10 years.
Per available information, Falcone is selling the Blockchain TV idea to investors with the hope of building a TV channel that is dedicated to cryptocurrencies and blockchain. Other topics to be covered include NFTs, Metaverse, and Web3.
A dedicated Blockchain TV could help to fill the gap of misinformation and the lack of enough educational materials on screen.
While traditional media houses have been informing the public about the crypto, they mostly have focused on the price performance of these digital assets whereas the industry and its use cases are beyond Bitcoin, Ethereum, and other crypto assets.
The TV network would be dedicated to bringing current news, entertainment, and trending digital activity about cryptocurrencies, Web3, NFT, and the Metaverse to its audience.
A New York Post revealed that Falcone has signed up Charlie Walk, a renowned musician, to help pitch his project to prospective investors.
However, despite the star power, investors are wary as questions are being asked about how much he has raised or what he is looking to raise.
But despite the lukewarm response so far, business reporter Lydia Moynihan has given the idea a positive nod toward the idea. Available information has revealed that the network channel Blockchain.TV, could be set to go live in the third quarter of this year.
Falcone had laid the foundation for this venture back in 2020, by purchasing broadcast stations under the brand name Madison Technologies before rebranding it to GoTV in 2021.
It should be noted that Falcone’s past is rather shady, with a history of fraud charges in 2012 by the US SEC accusing him and his hedge fund company, Harbinger Capital Partners. Per the charges, the ex-billionaire is reported to have used up to $113 million worth of fund assets to offset his taxes.
Nation World News also reports allegations of illegal “short squeeze” against Falcone, with the intention to manipulate bond prices as well as the unlawful purchase of equity securities in a public offering. This came after he sold short the same security during a restricted period.