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.
Millions of people around the world are getting ready for the Super Bowl on Sunday. And while the day is all fun and games, there's still a serious discussion happening about player safety. Now, two leading sports brands have teamed up to design new, state-of-the-art equipment using 3D printing. Joe DeSimone, co-founder and CEO of Carbon, stopped by Cheddar with more on how technology is making football more safe, head to toe.
Steve Case has been traveling the country in search of the next big thing, and he's eyeing Florida and Puerto Rico for the next leg of his journey. The former AOL CEO wants to find ー and invest in ー entrepreneurs outside the major coastal tech hub through his Rise of the Rest initiative. He told Cheddar Friday that the next big wave of innovation will come from the heartland, and he's putting his money where his mouth is.
Draftkings CEO Jason Robins told Cheddar that New Jersey residents alone could wager as much as $100 million on the Super Bowl, the first time sports betting will be legal there for the big game.
PopSockets, the company behind the massively successful grips attached to the back of mobile phones, is eyeing a potential initial public offering, CEO and Founder David Barnett told Cheddar Thursday. "We are considering an IPO. We're considering all options," Barnett said in an interview with Cheddar Thursday.
Amazon whipsawed after the bell, first surging and then erasing its earlier gains, after beating Wall Street expectations on its top and bottom lines, but reporting weak outlook.
The Swedish point-of-sale finance company quietly put up ads in the U.S. last year but made a splasher introduction earlier this month when Snoop Dogg became the face of its latest campaign.
That campaign, called Smoooth Dogg, featured the Afghan dogs from Klarna’s previous campaigns and coincided with the announcement that Snoop has become a minor shareholder in the fintech startup.
Food pickup app Ritual has big expansion plans. But its founder says the company's rapid growth can actually be traced back to a slower start. "Ritual's about your neighborhood, and I think what a lot of other companies did differently was they tried to go too broad too quickly, and they just lack the depth and coverage that Ritual has," Ray Reddy, co-founder and CEO of Ritual, told Cheddar Wednesday. "And we still approach the world neighborhood by neighborhood, and ensure that it's actually compelling."
Step aside, Siri and Alexa. VR studio Fable is relaunching as a "virtual beings" company to bring the public its first A.I.-powered character with whom users can have a two-way relationship. According to co-founders Edward Saatchi and Pete Billington, the rebranding ー which the two announced at the 2019 Sundance Festival ー is partly an effort to educate consumers about machine learning.
Microsoft shares dropped in extended trading on Wednesday despite reporting better-than-expected quarterly earnings due to investor concerns about its crucial cloud business.
Tesla shares sank in extended trading on Wednesday after reporting mixed earnings and revenue. The electric carmaker reported earnings per share of $1.93 cents on revenue of $7.23 billion, just missing expectations on earnings, but beating on revenue. Analysts surveyed by Thomson Reuters anticipated earnings of $2.20 per share on $7.08 billion in revenue.
