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.
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Gamelancer launches a new platform to help gamers connect with other user and monetize their time online. CEO Razvan Romanescu and COO Darren Lopes talk players' ability to connect with users whether they want to simply make friends or get their gaming skills up.
TikTok CEO Kevin Mayer has resigned amid U.S. pressure for its Chinese owner to sell the popular video app, which the White House says is a security risk.
Bingie is making it easier to discover new shows and share recommendations with friends and family. Joe Lane, CEO, joined Cheddar to discuss the launch of the app.
Desktop Metal, 3D printing company, is set to go public. Ric Fulop, CEO, joined Cheddar to discuss the company's success in various industries.
