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.
The New York State Department of Financial Services has proposed new guidance for licensed cryptocurrency firms that would make it easier for them to add new coins to their offerings, Superintendent Linda Lacewell announced Wednesday.
These are the headlines you Need 2 Know for Wednesday, December 11, 2019.
The flight marked a new milestone in the international partnership between Harbour Air, a seaplane airline, and magniX, an Australian firm developing electric propulsion systems.
Hawaiian Electric is committing to clean energy by working to achieve 100 percent renewable energy by 2045. In this episode of Slice, Connie Lau, President and CEO of Hawaiian Electric, talks with the New York Stock Exchange VP of Listings and Services Chris Taylor about how the company will achieve this goal.
It's been a quiet start to December for Bitcoin, which has held steady around the $7,500 mark. Bitcoin developer Jimmy Song joined Cheddar to discuss his outlook for bitcoin heading into 2020.
The company confirmed late Friday that it will move 1,500 employees into 350,000 square feet of space in a new building in the Hudson Yards development on the far west side of Manhattan.
Mayor Meghan Sahli-Wells of Culver City, California, spoke with Cheddar about transitioning from the golden age of film production to the new Hollywood renaissance of streaming content.
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.
Michelle McKenna, the NFL's first chief information officer, joined Cheddar to discuss sports, technology, and breaking glass ceilings in male-dominated industries.
These are the headlines you Need 2 Know for Friday, December 6, 2019
