$404 Million to $100 Million: GSR to Cut Overstock tZERO Investment 75%
A long-awaited capital infusion for Overstock and its tZERO security token platform has been delayed again – and significantly downsized.
Former Overstock CO Patrick Byrne dumped his 13% stake in the company he founded to buy cryptocurrency and gold as he prepares to battle his enemies.
Overstock is opening up trading on its security token market, tZERO, to retail investors starting next week.
Patrick Byrne and Overstock.com have prevailed over the digital dividend-doubting short sellers.
The digital dividend, Series A-1, will be paid in a ratio of 1:10 to the company's common stock.
tZERO plans to launch its own mobile trading app for buying and selling bitcoin and, possibly, ether.