Patrick Byrne to Increase Focus on tZERO and Digital Securities Exchanges
Joshua Stoner, 12 July 2021
Despite market conditions, there is no shortage of belief in the viability of blockchain. Week after week, partnerships are made, and new products ramp up development. One notable move has taken place just recently. Patrick Byrne has indicated that he will be shifting his priority and focus from Overstock.com to tZERO. This shift will see the sale of the retail side of Overstock.com. The plan is expected to come to fruition by February of 2019, as they line up potential buyers.
A subsidiary of Overstock.com, tZERO is a blockchain based platform. The primary goal of the company is to develop and launch various securities exchanges around the globe. Through these exchanges, investors will gain access to more efficient means of investing, alongside increased liquidity and transparency.
tZERO recently made waves in August, when they announced GSR Capital had invested roughly $300 million into their operations. In return, GSR capital received an 18% stake in tZERO, as well as $30 million worth of TZROP tokens.
