BSTR, affiliated with Adam Back, ordered to pay $15 million breakup fee

Bitcoin pioneer Adam Back's associated Bitcoin businesses have recently faced setbacks. BSTR Holdings' merger deal with a SPAC under Cantor Fitzgerald has been terminated, and BSTR has been ordered to pay a $15 million breakup fee. Additionally, Blockstream Mining, after being spun off from Blockstream, has encountered multiple lawsuits with its partner Exacore regarding unpaid equipment fees, electricity bills, and customer deposits, with a financing scale of approximately $2 billion. The Bitcoin sidechain Liquid Network, initiated by Blockstream, has also suffered a hack, resulting in the theft of about 4,000 BTC, of which 3,400 have been returned, while the hacker still holds approximately $47 million worth of Bitcoin.

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