Latest news with #TheStreet
Miami Herald
5 hours ago
- Business
- Miami Herald
Popular internet provider files for Chapter 11 bankruptcy
The technology sector has not been immune to bankruptcy, as several companies have either filed for Chapter 11 protection or are considering filing a petition. Struggling semiconductor supplier Wolfspeed is the latest major technology company to consider filing for bankruptcy, sources familiar with the matter told the Wall Street Journal on May 20. Don't miss the move: Subscribe to TheStreet's free daily newsletter The Durham, N.C., tech company is reportedly pursuing a prepackaged Chapter 11 plan in the coming weeks after out-of-court debt restructuring attempts failed. Related: Huge trucking company files for Chapter 11 bankruptcy In April, banking-as-a-service start-up, Solid, which at one time called itself the Amazon Web Services of fintech, filed for Chapter 11 protection in Delaware after failing to secure an additional round of funding. And now, struggling business internet provider Everstream Solutions LLC has filed for Chapter 11 bankruptcy protection, seeking a sale of its assets, facing a potential default on over $1 billion in prepetition credit agreements. The Cleveland-based provider of connectivity services, communications solutions, and network security for businesses in 13 states in the Midwest and Northeast and Washington, D.C., listed $500 million to $1 billion in assets and $1 billion to $10 billion in liabilities, including $1.06 billion in funded secured debt, in its petition filed on May 28. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy Its largest unsecured creditors include Crown Castle, owed over $1.45 million in trade debt; Illuminating Co., owed over $1 million in trade debt; and Northern Lights Locating & Inspection Inc., owed over $881,000. The debtor blamed significant capital expenditures to expand its fiber network, unanticipated operational losses, industry headwinds, and unsustainable debt obligations for causing its financial distress that required a Chapter 11 filing. Related: Troubled radio station company files for Chapter 15 bankruptcy Everstream, which is 99% owned by non-debtor Midwest Fiber Intermediate US LP, hired restructuring advisers in April 2023, facing limited liquidity and a risk of default, according to a declaration by Chief Restructuring Officer Justin Schmaltz. The debtor launched recapitalization transactions to amend its credit agreements in October 2023, secured equity contributions, and sought a sales process for assets in Illinois, Missouri, and Pennsylvania. The sale process had not closed in April 2024 when it began a review of strategic alternatives, as its 2023 recapitalization cash had diminished, and it faced another risk of default, according to the declaration. The company began seeking a sale of all of its assets in September 2024, while a sale of its Illinois and Missouri assets closed in May 2025. A subsidiary of Bluebird Network LLC submitted a stalking-horse bid for debtor Midwest Fiber Holdings LP, which is listed as Everstream's ultimate owner, for $285 million on May 22. The debtor closed and will wind down its Pennsylvania operations. The debtor is also seeking approval of up to $186 million in debtor-in-possession financing, which includes $55 million in new money to fund its bankruptcy case. The bankruptcy case timeline calls for an auction for the debtor's assets to be held on July 17, a sale hearing set for Aug. 1, a confirmation hearing for the case on Oct. 30 if the stalking-horse bid is successful, or on Nov. 14 if not, and an effective date for the confirmation of the bankruptcy plan by March 26, 2026. Everstream was founded in 2014 and expanded through company growth and acquisitions from 2016-2022. The company generated over $135 million in revenue in 2022, over $148 million in 2023, and $156 million in 2024. The debtor operates in Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, Virginia, West Virginia, Wisconsin, and the District of Columbia. Related: Key healthcare company files for Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
6 hours ago
- Business
- Yahoo
JD Vance declares, 'I still own a fair amount of Bitcoin' in bold Bitcoin conference speech
At the 2025 Bitcoin Conference in Las Vegas, Vice President JD Vance gave an impassioned speech that energized the crypto community and reinforced the Trump administration's strong pivot toward digital assets. In front of a packed crowd, Vance declared, 'I still own a fair amount of Bitcoin today,' signaling personal commitment to the crypto cause — a move that instantly made reflected on his entry into politics during his 2022 Senate run, sharing how early support for Bitcoin shaped his views on Washington's approach to innovation. 'Think about this. This is during that campaign, which spans 2021 and 2022. This feels like an eternity ago, but it was only four years ago,' he said. 'I recognized what so many advocates of Bitcoin recognized — that what the Biden administration was doing, what Gary Gensler was doing, was a disaster, and yet there didn't seem to be any real organization pushing back against it at the political level.' The Vice President praised the grassroots efforts of crypto advocates, crediting them with tangible political victories, including Bernie Moreno's Senate win over Democrat Sherrod Brown. 'Part of the reason that I'm standing here, part of the reason that Bernie Moreno defeated Sherrod Brown… is because you guys got organized and got involved in American politics, and I'm grateful to you for that,' he said. But Vance also warned that the fight isn't over. 'There's a lesson to take from that experience — unless you guys get involved in politics, politics is going to ignore this industry,' he said. 'Every victory that we win, it's only a provisional victory.' He continued, drawing a sharp distinction between two powerful emerging technologies — Bitcoin and AI — quoting a Silicon Valley mentor: 'One of my great mentors in Silicon Valley always told me that Bitcoin — that the crypto community — was about exit, and artificial intelligence was about voice.' Then came a message directly to the crypto faithful: 'I know that a lot of people in 2024 in this community chose voice. You chose to speak up, and you chose to get involved, and I believe you changed the trajectory of our country because of it. But you gotta keep on choosing voice.' Vance closed with a powerful affirmation of the human drive behind the crypto movement: 'You know, Bitcoin, of course, is — people call it digital gold. But while Bitcoin is digital, none of you are.' JD Vance declares, 'I still own a fair amount of Bitcoin' in bold Bitcoin conference speech first appeared on TheStreet on May 28, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
6 hours ago
- Business
- Time of India
2140 Bitcoin halving: Who is Bryan Johnson, the billionaire known for anti-ageing experiments and plans to live until 2140 to see Bitcoin's last halving?
Bryan Johnson Wants to Witness Bitcoin's Final Halving last bitcoin halving is in 2140i'm gonna be here for that and make sure you are too Bryan Johnson (@bryan_johnson) May 26, 2025 What Is Bitcoin Halving and Why Does Year 2140 Matter? What Do We Have in Common With Bitcoin? Bitcoin, we have a lot in common... number go upnumber go down- lower your resting heart rate before bed. It will boost your sleep, improve your mood and help you make more money. Best thing for your health. last bitcoin halving in 2140- we all want to be around for this,…— Bryan Johnson (@bryan_johnson) May 28, 2025 FAQs ADVERTISEMENT Billionaire biotech entrepreneur Bryan Johnson has revealed a bold plan to be alive for more than a century from now, as he intends to witness the final Bitcoin halving in the year 2140, as per a American entrepreneur and venture capitalist , recently wrote in a social media post on X (formerly Twitter) that, "Last Bitcoin halving is in 2140. I'm gonna be here for that — and make sure you are too," quoted The Street. His post was accompanied with a promotional poster for a conference where he is scheduled to speak from May 27 to May 29 in Las Vegas, as per the to The Street report, Bitcoin halving is a regular feature of the code in cryptocurrencies as almost every four years, the miner's reward for mining new Bitcoins is halved. This process reduces the total amount of Bitcoins mined over time, as per the is projected that the last bitcoin will be mined sometime in the year 2140, and at that time, the Bitcoin release will stop, and "the total number will reach a hard cap of 21 million", reported The who spends millions each year to change his biological age using experimental regenerative techniques , wrote another post on X, saying, "Bitcoin, we have a lot in go up, number go down" adding, "last bitcoin halving in 2140, we all want to be around for this, don't miss out," as per his X post on May 29. He highlighted in his post that, "1 BTC = 1 BTC, 1 YEAR = 0.5 MONTHS."He said he plans to be alive in 2140 to witness the last Bitcoin halving and wants others to be there the year when the final Bitcoin is expected to be mined, hitting its 21 million cap.
Economic Times
7 hours ago
- Business
- Economic Times
Who is Bryan Johnson, the billionaire known for anti-ageing experiments and plans to live until 2140 to see Bitcoin's last halving?
Bryan Johnson Wants to Witness Bitcoin's Final Halving last bitcoin halving is in 2140 i'm gonna be here for that and make sure you are too — Bryan Johnson (@bryan_johnson) May 26, 2025 What Is Bitcoin Halving and Why Does Year 2140 Matter? What Do We Have in Common With Bitcoin? Live Events Bitcoin, we have a lot in common... number go up number go down - lower your resting heart rate before bed. It will boost your sleep, improve your mood and help you make more money. Best thing for your health. last bitcoin halving in 2140 - we all want to be around for this,… — Bryan Johnson (@bryan_johnson) May 28, 2025 FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Billionaire biotech entrepreneur Bryan Johnson has revealed a bold plan to be alive for more than a century from now, as he intends to witness the final Bitcoin halving in the year 2140, as per a American entrepreneur and venture capitalist , recently wrote in a social media post on X (formerly Twitter) that, "Last Bitcoin halving is in 2140. I'm gonna be here for that — and make sure you are too," quoted The Street. His post was accompanied with a promotional poster for a conference where he is scheduled to speak from May 27 to May 29 in Las Vegas, as per the to The Street report, Bitcoin halving is a regular feature of the code in cryptocurrencies as almost every four years, the miner's reward for mining new Bitcoins is halved. This process reduces the total amount of Bitcoins mined over time, as per the is projected that the last bitcoin will be mined sometime in the year 2140, and at that time, the Bitcoin release will stop, and "the total number will reach a hard cap of 21 million", reported The who spends millions each year to change his biological age using experimental regenerative techniques , wrote another post on X, saying, "Bitcoin, we have a lot in go up, number go down" adding, "last bitcoin halving in 2140, we all want to be around for this, don't miss out," as per his X post on May 29. He highlighted in his post that, "1 BTC = 1 BTC, 1 YEAR = 0.5 MONTHS."He said he plans to be alive in 2140 to witness the last Bitcoin halving and wants others to be there the year when the final Bitcoin is expected to be mined, hitting its 21 million cap.
Time of India
7 hours ago
- Business
- Time of India
Who is Bryan Johnson, the billionaire known for anti-ageing experiments and plans to live until 2140 to see Bitcoin's last halving?
Billionaire biotech entrepreneur Bryan Johnson has revealed a bold plan to be alive for more than a century from now, as he intends to witness the final Bitcoin halving in the year 2140, as per a report. Bryan Johnson Wants to Witness Bitcoin's Final Halving The American entrepreneur and venture capitalist , recently wrote in a social media post on X (formerly Twitter) that, "Last Bitcoin halving is in 2140. I'm gonna be here for that — and make sure you are too," quoted The Street. His post was accompanied with a promotional poster for a conference where he is scheduled to speak from May 27 to May 29 in Las Vegas, as per the report. last bitcoin halving is in 2140 Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. i'm gonna be here for that and make sure you are too — Bryan Johnson (@bryan_johnson) May 26, 2025 What Is Bitcoin Halving and Why Does Year 2140 Matter? According to The Street report, Bitcoin halving is a regular feature of the code in cryptocurrencies as almost every four years, the miner's reward for mining new Bitcoins is halved. This process reduces the total amount of Bitcoins mined over time, as per the report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like One of the Most Successful Investors of All Time, Warren Buffett, Recommends: 5 Books for Turning... Blinkist: Warren Buffett's Reading List Click Here Undo It is projected that the last bitcoin will be mined sometime in the year 2140, and at that time, the Bitcoin release will stop, and "the total number will reach a hard cap of 21 million", reported The Street. What Do We Have in Common With Bitcoin? Johnson, who spends millions each year to change his biological age using experimental regenerative techniques , wrote another post on X, saying, "Bitcoin, we have a lot in go up, number go down" adding, "last bitcoin halving in 2140, we all want to be around for this, don't miss out," as per his X post on May 29. He highlighted in his post that, "1 BTC = 1 BTC, 1 YEAR = 0.5 MONTHS." Live Events Bitcoin, we have a lot in common... number go up number go down - lower your resting heart rate before bed. It will boost your sleep, improve your mood and help you make more money. Best thing for your health. last bitcoin halving in 2140 - we all want to be around for this,… — Bryan Johnson (@bryan_johnson) May 28, 2025 FAQs What did Bryan Johnson say about Bitcoin? He said he plans to be alive in 2140 to witness the last Bitcoin halving and wants others to be there too. Why is 2140 important for Bitcoin? That's the year when the final Bitcoin is expected to be mined, hitting its 21 million cap.
