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.
Big tech CEOs are gearing up to testify in Washington as lawmakers prepare to take action on tech liability. Sen. Marsha Blackburn (R-Tenn.) joined Cheddar to discuss.
Garrett Lord, CEO and co-founder of Handshake, joined Cheddar to discuss how the future building company differs from typical job search platforms.
China’s Ant Group will try to raise nearly $35 billion in its initial public offering in Shanghai and Hong Kong, which would make it the largest share offering in history.
After just six months from its launch date, the short-form streaming platform is shutting down. The platform was not able to gain traction amid the coronavirus pandemic. Cheddar's Michelle Castillo breaks it all down.
Computer equipment maker, Logitech, reported record sales amid the coronavirus pandemic, raking in more than $1 billion in Q2. CEO Bracken Darrell joined Cheddar to discuss the company's long-term success.
Gabriel Weinberg, founder and CEO of DuckDuckGo joined Cheddar to discuss how Google's practices may have constrained the industry
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Cheddar's Michelle Castillo digs into how people are making entrepreneurship fit into their lives in the age of coronavirus.
Avinash Rugoobur, Arrival president, joined Cheddar to discuss the launch of the first microfactory in South Carolina, expected to produce 10,000 electric vans per year.
According to the latest Cheddar/SurveyUSA poll, attitudes toward social media giants like Facebook and Twitter are largely mixed among Americans ahead of the 2020 election.
