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Ellen G. Resnick
Crystal Clear Communications
[email protected]


China Health Checkmate Commits to Initial Series B Funding for Bcause LLC

 

HONG KONG / VIRGINIA BEACH, Va. / CHICAGO – October 22, 2018 – China Health Checkmate (CHC) and Bcause LLC, creator of what is believed to be the world’s first full-stack cryptocurrency ecosystem,  announced today that CHC has committed to serve as the initial investor in the Bcause Series B capital raise*. In this equity round, CHC has agreed to acquire an undisclosed but substantial amount of the equity shares of Bcause LLC, which will enable Bcause to open its spot cryptocurrency exchange in the near term and to jointly shape a project to launch exchange-related cryptocurrency initiatives to be co-located in Asia. Other interested Series B round investor parties are expected to make contributions for additional equity investments in an intermediate closing timeframe on terms to be determined.

The objective of the CHC investment is to strengthen Bcause exchange operations and to establish both new cryptocurrency exchanges and Asian-based, asset-backed payment-related products that will be developed.

Benjamin Lye, Vice President and Head of Digital Assets, Checkmate Capital, said: “The global experience of the Bcause management team, particularly with building multiple exchanges in Asia, is critical in executing on our strategic plan to create viable cryptocurrency exchanges in Asia.  This will lead to a clear purpose and mission for our Asian partners, linked to desired objectives and outcomes for the constituencies they serve.”

Bcause CEO Fred Grede said: “This commitment represents our second strategic investment from the Asian region and will further our distribution into Asia.  We’re very pleased to work with CHC and our partners in playing a unique role in the evolving crypto marketplace and furthering the development of cryptocurrency trading in the region.”

For the Series B, ASGARD Partners & Co. was appointed as Strategic and Capital Markets Advisor to Bcause. Lehman Bush, an Asian-focused, specialty boutique private equity investment firm with offices throughout Asia, is currently acting as the firm’s Asian-based strategic industry partner.

About China Health Checkmate

China Health Checkmate (CHC) is a joint-venture entity that was established between Checkmate Capital (Checkmate) and its large financial services and healthcare partners in Asia.  Checkmate is an investment group managing family office assets and Asian-Pacific institutional funds.  Checkmate’s primary areas of investment are energy and energy technology, biomedical and biotechnology, and diversified special situation opportunities. With offices in Los Angeles, Beijing and an affiliated office in Singapore, Checkmate’s investment partners provide seasoned and diverse expertise in their relevant industries and leverage a powerfully efficient international ecosystem of strategic partners, business talent and resources.  Typically long-term focused, Checkmate’s investment approach embodies strategic oversight and an ownership paradigm.  For more information, visit https://checkmate.capital/en/.  CHC is a special-purpose vehicle used to facilitate the financial and investment interests of Checkmate and the mandated societal outcomes of their strategic investor partner entities, in serving large populations of citizens and other stakeholders with solutions geared toward advancing both economic and socially-conscious objectives, largely representing financial services and healthcare conglomerates, providing services in a broad range of fields to large populations of people.

About Bcause LLC

Bcause LLC is building a full-stack cryptocurrency ecosystem, which will include mining facilities, as well as a spot market, regulated derivatives exchange, regulated clearing house and custody operations.  Bcause has filed with the U.S. Commodity Futures Trading Commission to become a designated contract market (DCM) and to establish a derivatives clearing organization (DCO). Once regulatory approvals are in place, and trading and clearing begins in derivatives, Bcause is intended to serve as a one-stop shop for all parts of the cryptocurrency value chain.  Bcause launched in 2018, initially with its cryptocurrency mining facility in Virginia Beach, Virginia. The company is headquartered in Virginia Beach, with operations in Chicago.  For more information, visit www.bcause.com.

*All private placements of securities are offered through VENTURE.co Brokerage Services LLC Member: FINRA/SIPCASGARD Partners & Co., LLC and VENTURE.co are independent and not affiliated. None of the aforementioned firms provides legal, tax or investment advice or is authorized to do so. Information about any securities offering should not be considered complete and is qualified by the full offering documents corresponding to a particular project financing. This email does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful. All communications by ASGARD Partners & Co., LLC and  VENTURE.co or any of its directors, officers, employees, representatives, affiliates or agents, are modified by the Terms of Use and Privacy Policy posted on the website at ASGARD Partners & Co., LLC and VENTURE.co. This communication contains forward-looking statements; there can be no assurance that predicted events will occur.

Press Inquiries:

China Health Checkmate:

Erica Lee

+323-718-5298

[email protected]

https://checkmate.capital/

Bcause LLC:

Ellen G. Resnick

Crystal Clear Communications

+773-929-9292; +312-399-9295 (mobile)

[email protected]

 

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BCause LLC Announces Engagement of ASGARD Partners & Co. as Capital Markets Advisor for $25 Million Series B Capital Raise

VIRGINIA BEACH, Va., May. 16, 2018 – BCause LLC, creator of what is believed to be the world’s first full-stack cryptocurrency ecosystem, today announced that the firm has engaged ASGARD Partners & Co.* as its exclusive Capital Markets Advisor for a Series B capital raise of $25 million in equity. After launching its cryptocurrency mining facility in February, BCause is in the process of establishing a spot market and, pending regulatory approval, a derivatives exchange and clearing house.

Since its Series A funding round closed in October, BCause has been building its staff and infrastructure in Virginia Beach and Chicago to support its growth plan as a vertically integrated cryptocurrency organization designed to meet a full range of cryptocurrency needs, from mining, to spot trading, to listed derivatives and clearing. The firm intends to launch its spot market this summer. BCause has submitted a filing with the U.S. Commodity Futures Trading Commission to become a designated contract market (DCM) and is finalizing a submission to become a derivatives clearing organization (DCO). The Board and staff include a broad range of experts in cryptocurrency, cybersecurity, infrastructure, technology, finance, derivatives and clearing.

BCause CEO Fred Grede said: “We’re extremely pleased with our progress to date and the talented team we’ve been assembling. Demand for our mining services has been beyond expectations. This Series B round will help bring us to the next level in executing on our ambitious plans. It’s a pleasure to partner with ASGARD*, which already has a deep understanding of, and enthusiasm for, our business model.”

“It’s clear that interest in the cryptoverse from both investors and participants continues to grow. BCause’s one-stop institutional platform for mining, trading, hedging and clearing cryptocurrencies, is very well positioned to take advantage of this growth. We look forward to a continued partnership with the Company to help it develop this unique and compelling market proposition,” said Andi Çomo, Managing Director at ASGARD Partners.

About BCause LLC

BCause LLC is building a full-stack cryptocurrency ecosystem, which will include mining facilities, as well as a spot market, regulated derivatives exchange and regulated clearing house.  BCause has filed with the U.S. Commodity Futures Trading Commission to become a designated contract market (DCM) and intends to file with the Commission to establish a derivatives clearing organization (DCO). Once regulatory approvals are in place, and trading and clearing begins in derivatives, BCause is intended to serve as a one-stop shop for all parts of the cryptocurrency value chain.  BCause launched in 2018, initially with its cryptocurrency mining facility in Virginia Beach, Virginia, and it will launch spot trading in the summer of 2018. The company is headquartered in Virginia Beach, with operations in Chicago.  For more information, visit www.bcause.com.

About ASGARD

ASGARD Partners & Co. is a next generation financial firm combining private equity investments and capital markets advisory into one platform to better and more effectively serve portfolio companies, clients and investors.  ASGARD believes business is a powerful platform that can change the world for the better and is committed to serving entrepreneurs, companies and investors that share this belief.  The partners at ASGARD have collectively arranged and advised on more than $65 billion in transactions and have proven expertise across a wide spectrum of advisory services.  ASGARD brings multi-functional capabilities to its clients and enables them to navigate their capital and growth decisions effectively.  For more information, visit https://asgardpartners.com.

 

*All private placements of securities are offered through VENTURE.co Brokerage Services LLC Member: FINRA/SIPCASGARD Partners & Co., LLC and VENTURE.co are independent and not affiliated. None of the aforementioned firms provides legal, tax or investment advice or is authorized to do so. Information about any securities offering should not be considered complete and is qualified by the full offering documents corresponding to a particular project financing. This email does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful. All communications by ASGARD Partners & Co., LLC and  VENTURE.co or any of its directors, officers, employees, representatives, affiliates or agents, are modified by the Terms of Use and Privacy Policy posted on the website at ASGARD Partners & Co., LLC and VENTURE.co. This communication contains forward-looking statements; there can be no assurance that predicted events will occur.

 

MEDIA CONTACT:
Ellen G. Resnick
Crystal Clear Communications
+773-929-9292; +312-399-9295 (mobile)
[email protected]

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Bcause LLC Opens Cryptocurrency Mining Facility

Largest Digital Mining Data Center in North America is First Part of Cryptocurrency Ecosystem to Launch

VIRGINIA BEACH, Va., Feb. 12, 2018 – Bcause LLC, creator of the world’s first full-stack cryptocurrency ecosystem, today announced that it has successfully launched its state-of-the-art cryptocurrency mining facility and data center in Virginia Beach. Staffed around the clock, the facility is the largest of its kind in North America and represents the first component of the ecosystem to launch.

The data center will support digital mining of bitcoin and other leading cryptocurrencies for a broad range of customers from all over the world – from beginners who may choose to participate in “mining pools,” to institutional market participants and professional miners. Bcause is able to host, maintain and service the high-powered computers, known as mining rigs, with substantial efficiencies due to its scale. Larger customers supply their own mining rigs.

Bcause CEO Fred Grede said: “We’ve seen tremendous demand for this service, with inquiries coming in from all over the world. I’m pleased to report at launch that our Virginia facility, initially outfitted with 84 megawatts of capacity, is already completely allocated. This validates our business plan, and as we provide our new customers with the highest level of service, we are taking steps to support the incredible demand by adding new capacity in Virginia and elsewhere in the coming weeks. We have the ability to make mining substantially more economical for customers – whether they have large numbers of mining rigs or are trying their hand at mining with one machine.”

Just as credit card companies process transactions by moving value from the buyer’s ledger to the seller’s ledger, mining is a similar process of moving ownership of a cryptocurrency through a process called cryptography. The process allows the high-powered machines, or rigs, to solve complex math problems in a specified period of time, which – if successful – may result in the rigs’ owners receiving cryptocurrency as an award for their work.

Bcause has created a series of videos for those interested in exploring cryptocurrencies and the mining process, available at https://www.bcause.com/mining/.

In addition to mining, Bcause intends to offer spot trading and a regulated derivatives exchange and clearing house, pending regulatory approval.

About Bcause LLC
Bcause LLC is building the world’s first full-stack cryptocurrency ecosystem, which will include a digital mining facility, spot market, regulated derivatives exchange and clearing house. Bcause has filed with the U.S. Commodity Futures Trading Commission to become a designated contract market (DCM) and intends to file with the Commission to establish a derivatives clearing organization (DCO). Once regulatory approvals are in place, and trading and clearing begins in derivatives, Bcause will become the only venue to serve as a one-stop shop for all parts of the digital currency value chain. Bcause has laid the groundwork to launch in 2018, initially with its state-of-the-art digital mining facility in Virginia Beach, Virginia, and will launch spot trading in the first half of 2018. The company is headquartered in Virginia Beach, with operations in Chicago. For more information, visit www.bcause.com.

MEDIA CONTACT:
Ellen G. Resnick
Crystal Clear Communications
+773-929-9292; +312-399-9295 (mobile)
[email protected]

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Bcause LLC Announces Board Election Results for World’s First Full-Stack Cryptocurrency Ecosystem

Karan Rai Elected Chairman

Jerry Chan, Scott Early, Ron Filler, Tom Hammond, Chris Sikes Elected Directors

VIRGINIA BEACH, Va., Jan. 24, 2018 – Bcause LLC, creator of the world’s first full-stack cryptocurrency ecosystem, announced today the results of its Board of Managers and Chairman elections certified at its Board meeting last night. Members of the Board of Managers elected Karan Rai as the new Chairman of the Board. Shareholders of the privately held company elected five new directors – including three highly accomplished financial industry veterans specializing in futures, clearing, and securities and derivatives law and compliance; a cryptocurrency expert from the firm’s lead investor, and one of the company’s founders.

Fred Grede, Bcause CEO, said: “We have been steadily assembling a world-class team to help us implement our vision of providing a full ecosystem of quality cryptocurrency offerings – from digital ‘mining’ and spot, to derivatives and clearing. This election ensures that we have on our Board and team many of the leading minds not only in cryptocurrency, cybersecurity, infrastructure and technology, but also in finance and derivatives. We’re honored to benefit from the advice, counsel and direction of our newest Board members.”

Karan Rai is founder and CEO of ASGARD Partners & Co., a New York based investment and advisory firm. He has served on the Board of Bcause since September 2016 and has been affiliated with the company since 2013. He was previously CEO of Theodor Wille Intertrade Inc. and President of ADS Inc. Prior to that Rai was with JPMorgan’s investment banking practice in New York. He was appointed in August to the Wall Street Journal’s CEO Council.

The newest Board members elected are:
• Jerry Chan, a veteran of financial technology and cryptocurrency, who serves as Chief of Digital Asset Solutions of SBI BITS, the fintech arm of Tokyo-based SBI Holdings. SBI became the lead investor in Bcause following a Series A equity raise last fall. Chan is also Chief Strategy Officer of SBI Crypto. He held positions at Goldman Sachs and JPMorgan before entering the field of cryptocurrencies, including at Bitcoin start-ups in Japan and ultimately at SBI.

• Scott E. Early, a retired attorney as of 2012 from Foley & Lardner, America’s oldest law firm. With 38 years of legal practice, Early is nationally recognized as one of America’s Best Attorneys for Derivatives. He served as General Counsel to the Chicago Board of Trade, Kansas City Board of Trade and numerous other exchanges. He also was the CEO and General Counsel of the Board of Trade Clearing Corp. (BOTCC) when it was the largest derivatives clearing organization in the world. He has testified before the U.S. Congress on numerous occasions regarding financial issues and legislation, and he has tried lawsuits in state and federal court on a wide variety of financial issues. His clients have ranged from individual traders to the world’s largest investment and commercial banks.

• Ronald H. Filler, a more than 35-year veteran of the futures industry. Filler is Professor of Law and Director of the Financial Services Law Institute at New York Law School who has also served as the Program Director of the school’s LL.M. in Financial Services Law Graduate Program. He is a Public Director and Executive Committee member of the National Futures Association and a Past Chair of the U.S. Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee. Filler previously was a Managing Director in the Capital Markets Prime Services Division at Lehman Brothers Inc. Before joining Lehman in 1993, he was a Partner and Executive Committee member of Chicago law firm Vedder Price Kaufman & Kammholz.

• Thomas Hammond, who served as President of ICE Clear U.S. for nearly 10 years until his retirement on Jan. 1 last year. Soon after, he was inducted into the FIA Futures Hall of Fame for his accomplishments in the industry over 37 years. Hammond has served as a board member of AtlasBanc Holdings Corporation since July. He also participates on the Chicago Federal Reserve Bank’s Working Group on Financial Markets. Before joining CME Group in 2003, Hammond served as CEO, Executive Vice President and Chief Operating Officer of BOTCC.

• Chris Sikes, one of the founders of Bcause, with more than 25 years of experience in management, information technology (IT), data center operations and computer security. Sikes is the Computer Security Official and IT Project Manager in the Center Operations Directorate at NASA Langley Research Center, and he previously served on the Because Board and as Board Secretary for three years until January 2017. He also served as the company’s Manager of IT Infrastructure and Security. Before joining NASA in 2013, Sikes was the Manager of the Systems Administration and Security group for Jacobs Technology, one of the nation’s largest engineering and technical services-only companies. He also served as Project Lead – Enterprise Applications and then Area Manager for Northrop Grumman and as Systems Manager for Langley Federal Credit Union from 2001 through 2009.

Continuing to serve their terms on the Board are:
• Michael Adolphi, also Chief Operating Officer and Chief Technology Officer of Bcause
• Dr. John Ashby, Jr., Founder of Ashby Orthodontics and an owner of US Computing
• Thomas Flake, Founder, Chief Marketing Officer and Treasurer of Bcause
• Jonathan Tanemori, Chief Business Development Officer of SBI BITS

About Bcause LLC
Bcause LLC is building the world’s first full-stack cryptocurrency ecosystem, which will include a digital mining facility, spot market, regulated derivatives exchange and clearing house. Bcause has filed with the U.S. Commodity Futures Trading Commission to become a designated contract market (DCM) and intends to file with the Commission to establish a derivatives clearing organization (DCO). Once regulatory approvals are in place, and trading and clearing begins in derivatives, Bcause will become the only venue to serve as a one-stop shop for all parts of the digital currency value chain. Bcause has laid the groundwork to launch in 2018, initially with its state-of-the-art digital mining facility in Virginia Beach, Virginia, and will launch spot trading in the first half of 2018. The company is headquartered in Virginia Beach, with operations in Chicago. For more information, visit www.bcause.com.

MEDIA CONTACT:
Ellen G. Resnick
Crystal Clear Communications
+773-929-9292; +312-399-9295 (mobile)
[email protected]

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SBI Holdings and bcause announce closing of Series “A” funding

Chicago, Ill – October 16, 2017 -SBI Holdings and Bcause LLC announced today the closing of a Series “A” equity round in which SBI Holdings has agreed to be the lead investor. In this round, SBI Holdings has agreed to acquire a 40% holding in Bcause LLC and to provide significant amounts of crypto-currency mining gear to be co-located at Bcause’s mining operations in Virginia Beach, Virginia. Additional equity investments will be contributed by Bcause’s existing equity members and other interested parties.

Yoshitaka Kitao, Representative Director, President, and CEO of SBI Holdings, Inc., said, “Our investment into bcause will help them become the first US-regulated Designated Contracts Market exchange in the cryptocurrency derivatives market in the United States that can be provided for retail investors and will support the creation of a digital currency ecosystem in the strategic US market. This is an important, long-term partnership that will advance the development and wide spread use of digital currencies around the world.”

Frederick Grede, CEO of Bcause, said, “We are really excited to partner with SBI Holdings. Their success in Asia is well respected and we are honored to have them as both an investor and a strategic partner. Their deep experience operating markets in Asia sets them apart from the many other potential investors that we considered. This investment and this partnership will allow bcause to bring multiple pieces of the missing puzzle to the Crypto-Currency eco-system. Today, if you hold Bitcoin or any Alt-coin, and want to hedge the risk of holding that currency, your options are virtually non-existent. In a world with bcause, you will be able to mine coin, buy, and sell on our spot market, and once approved by the Commodity Futures Trading Commission, be able to buy and sell a variety of derivative product types that will allow you to mitigate the risks from price fluctuations.”

For the Series A, ASGARD Partners & Co. was appointed as Strategic and Capital Markets Advisor to the Company and Castle Placement acted as exclusive placement agent.

[About the SBI Group]

The SBI Group was established in 1999 as a pioneer of Internet-based financial services in Japan. Since then, the SBI Group has formed the world’s first Internet-based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. In addition, the SBI Group provides Asset Management Business, with a prime focus on investment in venture companies – an activity undertaken since before the Group’s founding. In this sphere, the SBI Group has made focused investments in the IT and biotechnology sectors, which are the 21st century growth industries. Currently, the development of new technologies is accelerating within the FinTech, IoT, AI, big data and related fields thus attracting global attention. The SBI Group is proactively investing in venture companies within these fields.

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