Several Bitcoin businesses associated with Bitcoin pioneer and Blockstream co-founder Adam Back have recently encountered significant setbacks. BSTR Holdings, a Bitcoin treasury project that Back helped promote, ended its merger with a SPAC owned by Cantor Fitzgerald and was required to pay a $15 million breakup fee. Blockstream Mining, a Bitcoin mining business Back helped establish and in which he holds a minority stake, has faced multiple lawsuits alongside partner Exacore since separating from Blockstream. The claims involve allegedly unpaid equipment bills, electricity costs and customer deposits, with related financing totaling about $2 billion. Separately, Liquid Network, a Bitcoin sidechain (secondary network linked to Bitcoin) launched by Blockstream, was hacked and about 4,000 BTC was stolen. About 3,400 BTC has been returned, while the hacker still holds Bitcoin worth approximately $47 million, Bloomberg reported.