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 esports organization is teaming up with Bumble, the women-first social and dating app, to bring together the team for competitive play in the shooter Fortnite.
Lyft reported much better-than-expected losses in its second quarter earnings report released on Wednesday after the bell, posting a loss per share of just $0.68 — much lower than the expected loss of $1.74.
On earnings-per-share, Roku also beat expectations. Analysts had anticipated a 22 cent loss in earnings-per-share, but the company only lost 8 cents per share, a sign that it's edging closer to profitability.
The rule would be the latest move by the White House against Huawei. The Chinese tech giant was deemed to be a threat to U.S. national security in May and has since been a central component of the ongoing trade dispute between the U.S. and China.
On this episode of 'Your Cheddar': how one entrepreneur leverages technology to build her brand and monetize her expertise, and the CEO and co-founder of Pillar joins the show to discuss how his platform helps others manage their student loan debt. Cheddar also hits the streets to ask New Yorkers how they would decide between easy money and spending quality time with their favorite celebrities.
Blue Hexagon is hoping to capitalize on companies' efforts to address the growing privacy concerns that come with the massive amounts of data flowing into today's enterprises.
A deal between Apple and Amazon to sell iPhones on the e-commerce platform has come under scrutiny by federal regulators, according to media reports.
This company will give you a tail.
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.
All Star Code partners with companies like Google to teach boys and young men of color how to code. Christina Lewis, Founder and CEO of All Star Code, and Gary Coltrane, an alumnus of All Star Code, join Cheddar to discuss how teaching coding can open up someone's path to success.
