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.
Oliver Gale, CEO and Co-founder of Panther Protocol, explains why the crypto industry is seeing a new wave of enthusiasm from Ukraine and discusses if any crypto-related sanctions can be placed on Russia due to the ongoing invasion.
Worker-first platform WorkWhile has raised $13 million dollars in a Series A round led by Reach Capital. WorkWhile says it connects the right workers to the right shifts. Hourly workers can use the company's platform to choose when, where and how they want to work. WorkWhile also says it hopes to help companies address the current labor shortage in the U.S. Jarah Euston, CEO and founder of WorkWhile, joins Cheddar News' Closing Bell to discuss.
Sachin Lulla, EY Consulting Advanced Manufacturing and Mobility Leader, joins Cheddar News to discuss real-world use cases and applications for IoT, and how IoT connects to sustainability.
According to the FAA, air travelers have been more out of line than usual in recent years. The FAA reports, the nation's airlines have had to deal with nearly 500 unruly passenger reports in just the first six weeks of 2022. Now, the CEO of Delta Airlines is asking the Department of Justice to introduce a "no-fly" list for passengers who have been convicted of an onboard disruption. However, critics of the proposal say this totally goes against civil liberties. Senior Policy Analyst at the ACLU Speech Privacy and Technology Project, Jay Stanley, joined Cheddar to discuss more.
