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.
A still-unidentified attacker was able to steal 254 tokens from 17 traders who held their NFTs on the OpenSea marketplace. Cheddar's Alex Vuocolo takes a close look at how the crypto community is responding.
Space travel is growing rapidly, and one billionaire businessman has purchased three SpaceX flights in order to push the industry forward. The Polaris Dawn, the first of three flights, will launch later this year, and its crew will conduct the first commercial spacewalk after they've reached the highest orbit in over 50 years. Jared Isaacman, Polaris Program Mission Commander and Founder & CEO of Shift4, joins Closing Bell to discuss the Polaris program's mission, when the first launch will happen and what it will entail, balancing his business with space exploration efforts, charitable efforts with St. Jude Children's Research Hospital, and more.
Following Russia's incursion into Ukraine, the U.S. is warning businesses and major banks to brace themselves for cyberattacks. Lester Munson, a senior fellow at the National Security Institute, joined Cheddar News to break down what this means for financial institutions “So we need to be concerned about not just intentional Russian hacks against American entities but also what Russia is doing in Ukraine. Those things can impact us as well," he said
romantic scams have hit a record high, according to the FTC. Last year alone, victims lost an estimated $547 million, which is six times more than the recorded total from 2017. Debbie Montgomery- Johnson, a victim of romantic scams and the author of the 'Woman Behind the Smile,' joined Cheddar to discuss more.
Dr. Brian Moore, CEO & Co-founder of sports performance and technology company Orrecco, joins Cheddar Innovates to discuss how the @thlete platform is helping pro athletes and Olympians improve their performance, and what the future of tech in the world of sports may look like.
Tom and Darr Aley, Co-Founders of Aidentified, join Cheddar Innovates to discuss how the platform is becoming the next social network for companies to make connections in an increasingly digital world.
