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Medici Ventures has completed an $8 million equity purchase in Barbados-based Bitt, bringing it a controlling interest in the blockchain firm.Medici’s latest investment will help it chase market opportunities around the adoption of digital currencies in developing countries, the Overstock subsidiary said in an announcement Wednesday.“Bitt’s pioneering work in the
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Coinbase will offer non-aligned employees a severance package, Kadena looks to cut into the DeFi market with a new decentralized exchange and Sushiswap is hemorrhaging liquidity. Top shelfSeverance offerCoinbase CEO Brian Armstrong sent his employees a letter telling them to get in line with a new company “culture shift,” offering those unwilling
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GrainChain, a commodities tracing platform that uses smart contracts to open up liquidity for low-income farmers, has raised $8.2 million in its latest funding round, the company announced Friday.Luis Macias said the money will bolster GrainChain’s burgeoning operations in Mexico, Honduras and the southwest United States. “This funding is really
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Overstock’s blockchain arm tZERO aims to launch its cryptocurrency and digital asset broker dealer service in the first half of 2020.In a letter to investors released on Jan. 30, tZERO CEO Saum Noursalehi provided a recap of the company’s progress over the last year and highlighted tZERO’s goals for
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After selling off all of his Overstock shares, former CEO Patrick Byrne is reportedly still holding a major stake in tZero, Overstock’s crypto token platform.Byrne still owns 63,775 shares in tZeroOverstock’s 2019 notice of special meeting and proxy statement, filed with the United States Securities and Exchange Commission (SEC)
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Troubled online retailer Overstock has invested $2 million USD in blockchain-based identity firm Evernym through its crypto division, Medici Ventures. Blockchain-Based Identity Technology Evernym was founded in Salt Lake City in 2013 and has developed a blockchain-based technology that allows organizations and governments to issue, accept, and verify credentials that operate similarly to a
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Overstock’s security token platform, tZERO, has lost a major investor following the departure of CEO Patrick Byrne last week. Another Blow for tZERO During interim CEO Jonathan Johnson’s very first investor call in his new role, he confirmed that Makara Capital “will be not investing in tZERO right now.” However, he did mention that
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Singaporean private equity firm Makara Capital said it will not invest in Overstock’s blockchain subsidiary tZERO.In an Overstock investor call on Aug. 26, Overstock’s interim CEO Jonathan Johnson said that Makara recently informed the firm that they “will be not investing in tZERO right now.”Medici Ventures will continue to
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