Overstock Just Closed its First Day of Blockchain Stock Trading
The first-ever day of stock trading on a blockchain-based, shared ledger has come to a close. After six-and-a-half hours of being open for business, Overstock.com’s tØ blockchain platform has very little to show in terms of trade activity. In fact, there was almost no activity at all. But that’s not the point, according to Patrick Byrne, Overstock’s founder and CEO, who has been waging a personal fight against some of Wall Street’s more opaque business practices. In conversation with CoinDesk, Byrne likened the day of trading to test pilot Chuck Yeager breaking the sound-barrier for the....
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Overstock.com hinted it will begin selling stock on its T0 platform, a blockchain-based platform for trading equities which it announced last year, according to Venture Beat. Judd Bagley, the company’s communications director, announced the company plans to move forward at the Money20/20 conference in Las Vegas, emphasizing T0’s advantages over traditional equities trading systems. Bagley said Overstock, unlike other innovators, is not going to hold back in the area of fintech innovation. He noted the company, being from Utah, is taking a “burn it down and start over” approach. Technically....
E-commerce giant Overstock’s blockchain stock sale is set to begin later this month. Overstock announced today that Connecticut-based investment bank Source Capital Group, Inc. will serve as dealer-manager for its planned blockchain-based stock offering. In March, the e-commerce giant said that it would issue its own stock via blockchain, utilizing its tØ blockchain platform to facilitate trades. During an event last month, Overstock CEO Patrick Byrne said that trading of the stock could begin as early as mid-December. Now, the company has divulged new details. According to Overstock, the....
On Tuesday morning at the Money 20/20 Conference in Las Vegas, Patrick Byrne, CEO of Overstock and t0, announced the historic arrival of trading publicly offered Overstock shares on the t0 blockchain. Overstock Moving Forward With t0. Starting on December 15th, individuals who purchased Overstock shares by the November 7th record date will qualify to purchase shares of its preferred stock, including preferred shares to be issued and traded exclusively on the t0 platform. As such, Overstock will become the first company to legally trade a publicly listed security on a blockchain solution.....
The Salt Lake City-based online retailer Overstock is working on a revolutionary new development: a new independent stock exchange dubbed Medici, powered by Bitcoin technology. The new stock exchange could sidestep traditional stock exchanges such as NYSE and NASDAQ and issue corporate stock directly over the Internet. In a prospectus filed with the Securities and Exchange Commission on April 24, Overstock indicated that it may issue up to $500 million in stock or other securities through an alternative trading system built upon blockchain technology that powers bitcoin. Overstock's CEO....
The Salt Lake City-based online retailer Overstock is working on a revolutionary new development: a new independent stock exchange powered by Bitcoin technology. The new stock exchange could sidestep traditional stock exchanges such as NYSE and NASDAQ and issue corporate stock directly over the Internet. Overstock, one of the first and largest online retailers to accept bitcoin payments, first announced the project in October 2014. "There is an opportunity to recreate the financial world as we know it in the parallel universe that is the blockchain," Overstock's CEO Patrick Byrne told....