CEO Saum Noursalehi confirms tZero has “significantly reduced [their] expenses. [tZero’s] run-rate on cash burn is down almost 45% year-over-year.”
Overstock wants a Utah court to dismiss a lawsuit accusing them of making false claims as well as manipulating the price of $OSTK.
The Hong Kong-based investor will present fresh opportunities to tZero for expansion in Asia and Pacific markets.
The U.S. SEC is investigating Overstock for several regulatory failures tied to its digital currency platform.
The blockchain banking startup has run out money, even after raising $10M from investors. All its employees have left.
Patrick Byrne, the former CEO of Overstock, is facing a class-action lawsuit that accuses him, as well as former CFO Greg Iverson, of securities fraud.
Overstock has filed for a stock registration with the U.S. Securities and Exchange Commission in connection with its blockchain-powered digital preferred stock.
The company’s former CEO has offloaded his 13.6% stake in the company, the entire amount he had held, and is now going to go on a shopping spree.
Online retailer Overstock has reportedly decided to restructure its planned cryptocurrency dividend plans, attributing the restructure to market feedback as well as to provide greater liquidity.
Overstock wants to be clear that they will still be a leader in crypto despite Patrick Byrne’s departure.
Patrick Byrne has resigned from the company over alleged ties to Russian operatives and an investigation into the 2016 presidential election.