Matthew Gilden is a former banker and accountant who is in league with Silvio Manfredi's Maggia faction. He was earlier linked to an international money laundering ring, but there wasn't enough evidence to properly convict him, so he walked away free but with his professional reputation damaged. These days, most of the Maggia's financial status flows from bank accounts that are traced back to Gilden's private retreat in the Cayman Islands where he runs their books and keeps them well-off. He works at his finest when dealing with gold bars, which has lead to him being given the nickname of "Goldbug".
When Luke Cage began his mission to take down the Maggia-Flashmob alliance's leadership for revenge on what one of their lower-ranking memebers, Mariah Dillard, did to him, Gilden was among those targeted by the Hero for Hire. To ensure he would be prepared for combat against the Burnstein Mutate, Gilden commissioned the Tinkerer to construct for him a Chitauri-metal armor with design patterns based on golden insects, Iron Man's armors, and the Spider-Man suit that would provide him with enhanced strength, endurance, and agility. He was also equipped with a wrist-mounted pistol loaded with vials of the Chemistro-Extremis serum developed by Curtis Carr that can fire liquid-filled plastic bombs which immobilizes the target or change its chemical properties to the desired state.