The SEC accused tZERO of using non-U.S. trading information from a Singaporean firm and failed to properly disclose key information in accordance with regulations.
CEO Saum Noursalehi confirms tZero has “significantly reduced [their] expenses. [tZero’s] run-rate on cash burn is down almost 45% year-over-year.”
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.
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.
Patrick Byrne has resigned from the company over alleged ties to Russian operatives and an investigation into the 2016 presidential election.
tZero announced that it has partnered with Vision to tokenize the upcoming film, Atari: Fistful of Quarters.
GSR Capital, which was set to buy $30 million in tZero tokens, will now exit the deal with just $5 million in tZero equity.