Overstock.com says initial coin offering attracted over 10,000 subscribers

Overstock.com issued a press release detailing its highlights of 2017. In it, the company explained, "2017 was a landmark year for both cryptocurrency and its underlying technology, blockchain. Overstock continued to be a leader in the blockchain industry, investing in companies that are at the cutting edge of development in the space. The online retailer, which in 2014 was the first major retailer to accept bitcoin payments for purchases, expanded its payment options to include dozens of major cryptocurrencies through integration with ShapeShift, a leading digital asset exchange." It added, "Overstock's blockchain-focused subsidiary, Medici Ventures, named its board of directors in 2017, and also saw a number of its portfolio companies continue to use blockchain to revolutionize industries including capital markets, money and banking, property registry, voting, identity, and underlying blockchain technology, including: tZERO, the world's first SEC approved, blockchain-based alternative trading system, launched its initial coin offering, which attracted over 10,000 subscribers and raised $100M in commitments in the first 12 hours of its pre-sale. A significant portion of the tZERO security tokens issued will be available to accredited investors in the public sale beginning in January, 2018." Overstock.com shares are up $3.60 to $83.30 in midday trading.

Sign Up

Get the InvestingChannel
Free e-Letter Today

Learn More

Independent market opinion, analysis and ideas - delivered every business day

Premium market opinions, analysis, and ideas - delivered every business day

Editor's Picks