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.
Uber is sniffing around a possible acquisition of either Lime or Bird, the leaders in the growing e-scooter rental market, according to a report in The Information. One of the reporters who broke that story told Cheddar on Monday that there is a "growing realization" among ride-hailing companies that bike and scooters will continue to be a significant part of the urban mobility landscape.
Some of the top cars and tech were on display at the
Los Angeles Auto Show. Cheddar's Tamara Warren caught up with Bob Wheeler, president & CEO of Airstream, and discussed updates in their iconic travel trailers.
John Paul DeJoria may be a billionaire now, but the self-made founder of John Paul Mitchell Systems and Patron Spirits will never forget the periods of homelessness from his past. Even after he's built an empire, DeJoria said he gives first and generates profit second ー a philosophy that is now influencing the launch of his new smartphone, ROKiT.
Volvo's headlights are fixed firmly on the future ー so firmly that it decided to bring a concept, not a car to the 2018 Los Angeles Auto Show. Volvo's Chief Digital Officer Atif Rafiq told Cheddar's Tamara Warren that it took the "extreme step of not having a car at a car show" to make a statement about Volvo's future in mobility ー even as the automaker regains its balance after abruptly canceling its public debut.
Crypto exchanges have improved their anti-money laundering compliance (AML), but the the Treasury Department's next priority is to remind them about the looming threat of terrorist financing.
At this year's Los Angeles Auto Show, I came face to face with a future promised by sci-fi novels and films. The BMW Vision iNEXT concept car drew me in and refused to let me go. The electric SUV, which promises to have level 3 autonomy when production begins in 2021, looks like nothing else on the road ー yet somehow seems familiar.
Facebook recently set up a small booth at the University of British Columbia in Canada with free t-shirts, dogs to pet, and the opportunity to win a $1,000 cash prize. All students had to do was download a new app called Bonfire.
Even as Mercedes-Benz unveils its latest models to the public at the L.A. Auto Show on Friday, designers at the company will be thinking much further ahead ー to the future of the auto industry.
At this year's Los Angeles Auto Show, one of the first booths visitors will see when they enter belongs to Tesla, which is set up right near the entrance to the South Hall of the L.A. Convention Center. But as Cheddar took in the show during Wednesday's media preview, Tesla's presence was felt far beyond its booth.
Mashahiro Moro, president and CEO of Mazda North American Ops, spoke with Cheddar at the L.A. Auto Show about the redesigned Mazda 3 sedan, and the company's continued commitment to small, fuel-efficient passenger cars.
