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 $100 and did not severely impact any of their consumers. Byne was overall surprised by the amount of attention the story had received compared to the minimal impact it had.
Byne explains that Overstock is not expecting to create their own cryptocurrency. For the time being, they are happy to accept US dollars and Bitcoin.
Overstock.com is excited to be utilizing revolutionary crypto and developing their own blockchain technology for their platform. At this point, Overstock.com has made it a priority to use blockchain tech and develop it in the new year. Byne's goal is to build the most value per share of stock, and that's what he tells shareholders as CEO.
Derrick Hatami, the executive vice president of sales and marketing at Volkswagen, told Cheddar's Tamara Warren at the L.A. Auto Show about the retiring of the iconic VW Beetle, and the automaker's new focus on electric cars and a concept van that calls back to another VW icon -- the bus.
The future of the sedan is parked on shaky ground in the U.S.
But according to the president of the Lincoln Motor Company, the car model is still major in China. “But we’re in a little bit of different situation because in China — sedans are still 50 percent of the market.” Joy Falotico told Cheddar Wednesday morning at the Los Angeles Auto show.
Logitech may eye a Turtle Beach acquisition as it turns away from a Plantronics deal. "Logitech has a great history as far as making very smart M&A transactions," said Tom Forte, a senior research analyst at D.A. Davidson. "I do see a potential longer term for Turtle Beach to be acquired. Logitech is one potential suitor ー Microsoft's ($MSFT) another," he added.
Columbus, Ohio, may not have won the bid for Amazon's HQ2, but the city isn't ready to retire its proposal quite yet. Mayor Andrew Ginther said the city's leaders plan to use their application as a road map to transform Columbus from a Midwestern destination into a national one.
Greg Hewitt, CEO of DHL Express in the U.S., told Cheddar that Cyber Monday ー its biggest shipping day of the year in terms of "outbound" packages ー saw a 40 percent lift in packages moved year-over-year, as more overseas consumers took advantage of deals on U.S.-based websites like Amazon.
The cannabis industry's go-to packaging supplier KushCo Holdings is taking full advantage of the green rush. And when marijuana finally goes fully legal in the U.S., the company plans to re-emerge as the leader in ancillary products.
Amazon made company history and recorded its biggest shopping day yet on Cyber Monday following an already-lucrative five-day holiday weekend that totaled over 180 million in products sold.
Christine Sandler, Coinbase's head of coverage, told Cheddar's Tanaya Macheel that the crypto exchange has released an agency-only OTC desk in response to demand from large, institutional investors. Unlike other offerings, Coinbase will not act as a counterparty to trades and will instead match client orders.
Sarah Lewin, associate editor at Space.com, discusses InSight's successful seven month journey to Mars. InSight will drill into the red planet to learn more about its origins and monitor for Marsquakes.
Richard Allan, Facebook's vice president of public policy for Europe, the Middle East and Africa, answered inquiries from representatives of nine countries, sitting next to an empty chair left open for Zuckerberg. Early on, Allan, who is a former member of the British Parliament, admitted that the chief executive's absence was "not great."
