A big glitch in cryptocurrency is impacting some shoppers online. Last week, a bank security firm uncovered Overstock.com unknowingly accepted Bitcoin Cash instead of Bitcoin as payment for a product. The glitch has since been fixed. Overstock.com CEO Patrick Byne responds to this mix-up.
Byne explained that there was no glitch with Overstock but rather a glitch at Coin Base. He estimated that the impact was less than $100 and did not severely impact any of their consumers. Byne was overall surprised by the amount of attention the story had received compared to the minimal impact it had.
Byne explains that Overstock is not expecting to create their own cryptocurrency. For the time being, they are happy to accept US dollars and Bitcoin.
Overstock.com is excited to be utilizing revolutionary crypto and developing their own blockchain technology for their platform. At this point, Overstock.com has made it a priority to use blockchain tech and develop it in the new year. Byne's goal is to build the most value per share of stock, and that's what he tells shareholders as CEO.
More than one-third of children interact with devices before the age of five. This is the same age when we're reminding kids to not talk to strangers, but what about strangers lurking on the internet? Children are increasingly becoming prime targets for cyber fraud and it's important to teach them how to stay safe from online fraudsters. Richard Dufty, chief commercial officer at Arkose Labs, joins Cheddar News to discuss.
As TikTok grows in popularity, so does its ad revenue potential. Research firm Insider Intelligence forecasts the app's revenue will likely triple in 2022 to more than $11 billion, putting it past the sales of both Twitter and Snapchat combined. Cheddar News takes a closer look.
Snapchat has launched its first features to help users learn American Sign Language through its lenses and a game. The project was spearheaded by deaf and hard-of-hearing workers. Cheddar News was joined by Austin Vaday, software engineer at Snap, and his sign language interpreter, Jonathan Webb, to discuss the ASL Fingerspelling Lens and how the project came together. “We wanted to find a way to appropriately and properly educate the community so that folks can communicate with people like me using sign language," Vaday stated.
Brittan Heller, founder of the Center for Digital Civil Rights and a fellow at the Atlantic Council, joins Cheddar News to discuss the rise of sexual assault in the metaverse.
The second-largest stablecoin, USDC, backed by the company Circle recently received a $400 million funding infusion from traditional financial firms like BlackRock and Fidelity even as crypto reels from more high profile heists.
A group of Tesla shareholders suing CEO Elon Musk over some 2018 tweets about taking the company private is asking a federal judge to order Musk to stop commenting on the case.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Between Bells executive producer Conor White recaps some of the biggest stories of the week, and teaches Azia Celestino and Hena Doba a thing or two at the same time. It's This Week In Trivia!
