Overstock’s Medici Ventures Invests $8M in Blockchain Firm Bitt
Medici Ventures has completed a third equity purchase in Barbados-based Bitt, bringing it a controlling interest in the blockchain firm.
On the Overstock-owned platform, TokenSoft customers will be able issue security tokens that retail and accredited investors can trade.
“We remain bullish on blockchain technology but are changing the way we interact with these asset," said CEO Jonathan Johnson.
The deal is part of Overstock’s plan to exit its blockchain-related investments.
The plaintiff may now file an amended complaint against Overstock and former CEO Patrick Byrne.
The comments come days before a ballot count marred in uncertainty.
The e-commerce firm is hoping to persuade a judge in the Utah District Court to throw out a class-action securities fraud lawsuit relating to the firm's security token dividend and its effect on short sellers.