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US Congressman Patrick McHenry is introducing (again) the Financial Services Innovation Act (2019), which first saw light in 2016. If passed, this would require the federal regulators to create Financial Services Innovation Offices (FSIOs) within their agencies. These will act as spots for permanent beta testing in which entrepreneurs can
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Patrick Harker, president of the Federal Reserve Bank of Philadelphia, is confident that central bank digital currencies are inevitable.As Reuters reported on Oct. 2, Harker expressed the idea that central banks — including the Federal Reserve — will inevitably release digital currencies. Still, Harker believes that the United States should
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A new complaint filed in Utah accuses Overstock.com, former CEO Patrick Byrne and former CFO Greg Iverson of securities fraud.The complaintFiled on Friday, Sept. 27, the complaint requests a trial by jury, alleging that Byrne designed Overstock.com’s digital asset-based dividend as a means of punishing short sellers, which other
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In recent news, Patrick Byrne, the former CEO of Overstock, has sold all his Overstock equity holdings worth about $90 million to shift his investments to different assets like precious metals and cryptocurrencies.Patrick Byrne shared the letter on his personal website. Within the letter he reveals that he had dumped
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The CEO of Overstock’s blockchain subsidiary tZERO, Saum Noursalehi, has issued an update on tZERO’s progress and addressed the departure of Overstock’s CEO Patrick Byrne.In a letter to investors published on Sept. 6, Noursalehi addressed Byrne’s resignation as the CEO of American e-commerce giant Overstock.com. Noursalehi assured that Byrne’s
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Noted crypto advocate Patrick Byrne resigns as CEO of Overstock.Per a letter of resignation and company statement posted on Twitter Aug. 22, Patrick Byrne will be stepping down as CEO of Overstock.Having led crypto-friendly e-commerce at the company, including the launch of tZero, Overstock’s crypto token platform, and Overstock’s acceptance
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