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.
Hope is set to reach Mars in February 2021, the year the UAE celebrates 50 years since its formation. Two other Mars missions are planned in coming days by the U.S. and China.
Geoff Cook, CEO of The Meet Group talks dating during the coronavirus pandemic. The company has rolled out new features on it's apps to enhance the dating experience.
Jared Spataro, corporate vice president of Microsoft 365, talked to Cheddar about the tech giant's new virtual reality and A.I. voice assistance features in its Teams product.
More than a decade after the term was coined by columnist Thomas Friedman in the New York Times, there is a Green New Deal proposal in Congress. Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Ed Markey (D-MA) have proposed a formal resolution that would frame climate change, economic sustainability and social justice together under a unifying theme, calling for a Depression-era national mobilization similar to FDR's New Deal, and serving as a litmus test for Democratic presidential candidates going forward.
Dave Hickey, president of diagnostics at BD Veritor, talked to Cheddar about Becton Dickinson's newly approved testing product and the need for widespread availability.
TikTok says it will stop operations in Hong Kong after the city enacted a sweeping national security law last week.
Zumba transitions to online courses as the coronavirus pandemic continues upend industries. Alberto Perlman, Zumba CEO, talks programs targeting families and content the company offers online.
The Supreme Court has upheld a 1991 law that bars robocalls to cellphones.
Uber finally got its food delivery company, acquiring Postmates in a $2.65 billion all-stock deal, the ride-hailing giant has confirmed.
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.
