Overstock Makes Key Executive Change at Blockchain Subsidiaries

Medici Ventures, the blockchain investment arm of Overstock, is reassigning a top executive to focus on revenue generation at its most prominent portfolio company, tZERO.

Steven Hopkins, the chief operating officer of Medici, planned to resign from that job to become chief revenue officer at tZERO, a regulated exchange for security tokens, according to a December 28 Securities and Exchange filing by Overstock.

The appointment was to follow the conclusion of a deal in which tZERO would buy 67 percent of the crypto wallet startup Bitsy from Hopkins and his father-in-law Richard N. Beckstrand for $8 million and the other 33 percent from Medici via a convertible promissory note worth $4 million.

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.