The CEO of security-token trading platform tZERO has resigned, and the company's chief legal officer is stepping in as his replacement on an interim basis.
- Saum Noursalehi's Friday resignation as CEO was announced by tZERO on Monday.
- Alan Konevsky, long-time chief legal officer of tZERO, was appointed to hold the reins until a permanent replacement is found.
- TZero provides an alternative trading system for companies to digitize and issue equity to investors on its blockchain-based platform.
- In June, people at tZERO parent company Overstock revealed to CoinDesk that the platform was looking for a buyer to take it to the next level.
- A number of routes were available to tZERO, according to Michael Mougias, VP of investor relations, who stated the goal was not to find an outright buyer but the right strategic partners. One of these routes was a public listing via a special purpose acquisition company, he said at the time.
Read more about
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.