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A financial technology company which owns, develops, and operates a suite of fintech solutions for capital markets.

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Overstock Seeks to Tokenize Series 1 Share – tZERO

The online retail giant, Overstock, issued a letter to stockholders this week requesting the ability to tokenize all Series 1 shares utilizing the company’s tZERO blockchain platform. tZERO is a subsidiary of Overstock that was developed specifically to handle blockchain services. Swapping to the blockchain system gives investors more flexibility. Also, it allows Overstock to showcase its new platform’s capabilities. Enhanced Trading Experience Citing the letter, Overstock officials seek to provide investors with more liquidity in the market. As the security token sector continues expanding, there is a growing call for more liquidity in the space. Security token exchanges provide regulated digital asset investors with an answer to the liquidity issue. These platforms allow investors to trade blockchain assets while remaining compliant. Compliance includes following KYC/AML laws. Also, security token exchanges register with government officials. In these ways, they differ from traditional crypto exchanges. Speaking on the tZERO project, Overstock’s CEO Patrick Byrne praised the progress attained so far. The platform officially launched in January. Byrne described the tZERO blockchain platform as of the “most significant and cutting edge in the world.” He also took a second to relate his excitement surrounding the first round of products becoming publicly available. Overstock CEO Patrick Byrne via Twitter tZERO Exchange tZERO is a leading Fintech firm that offers enterprise-level blockchain solutions for traditional markets. The platform enables streamlined security token trading with full compliance. Today, the company operates one of only a handful of licensed security token exchanges in the US. As you could imagine, tZERO is considered a major player in the security token space. Notably, the platform has been on the crypto radar ever since the firm secured $134 million in funding during a December 2017 ICO. Since then, the company hosted numerous crowdfunding rounds aimed at select investors. tZERO incorporates securities regulations directly into its token protocol. This strategy ensures that all security tokens remain compliant throughout their life cycle. Interestingly, the firm announced this month that moving forward, all tokens on the platform will utilize Securitizes Digital Securities (DS) protocol. A Demonstration with Overstock It appears that the developers behind the tZERO platform are ready to start trading. Also, it’s praiseworthy that the development team decided that tokenizing Overstock shares first was the best move. This strategy boosts confidence in the platform. Also, it enables tZERO to iron out any issues in-house. Not All Roses The tZERO platform has not been without its setbacks. In Q4 tZERO showed $12.6 million in pre-tax losses. Consequently, the program saw cutbacks in March that were significant. Despite the losses, tZERO is now active and ready for action. tZERO Time As the world of the corporate coins and security tokens is just heating up, tZERO picked an ideal time to enter the market. This platform should capture a significant amount of trading volume amongst these corporate coins as the market expands. For now, investors eagerly await to see the results of the last two years of development. The post Overstock Seeks to Tokenize Series 1 Share – tZERO appeared first on .

GSR Capital closes investment in tZERO; invests $5 million instead of $400 million

Hong Kong-based GSR Capital has closed investment in Overstock’s security token trading platform tZERO, CoinDesk writes. The company received only $5 million in funding. Originally, per the agreement signed last summer, GSR was supposed to invest more than $400 million in tZERO. Afterwards, the funding was lowered to $100 million in March, and it went down to $30 million a month later. According to Overstock’s CEO Patrick Byrne, GSR was let out of “all previous contracts.” tZERO CEO Saum Noursalehi believes the investment was “a decent offer.” The investment comprises “$1 million in U.S. dollars, $1 million worth of Chinese Renminbi, and $3 million worth of ‘certain securities.’” Meanwhile, Singaporean fund Makara Capital is conducting due diligence of tZERO. It may still, therefore, invest the full amount. In order to raise additional funds, Overstock has recently sold some of its stock; if needed, tZERO will get some of those funds, Noursalehi said.
The Block Crypto

GSR Capital Closes Investment On tZERO, Puts $5 Million Vs $30M After Constant Delays And Changes

GSR Capital Closes Investment On tZERO, Following Constant Delays And Changes Over The Last Few Months GSR Capital completes investment commitment to tZERO, despite many contractual changes. The decreased investment has caused Overstock to delay the sale of their online retail business. c+2+reated a security token trading platform called tZERO quite a while ago. […]
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Due Diligence Process Delays tZERO Investment

Deadline Missed Today, tZERO issued a statement to their shareholders, commenting on their ongoing investment by Makara Capital, which we previously detailed. In this statement, they indicate that while this investment is on-going, further delay is unavoidable. After initially setting a mid-April deadline, the due diligence process is simply more time consuming than initially thought. Commentary In the update, distributed to its shareholders, Patrick Byrne expressed praise for Makara, while commenting on the tenuous nature of the deal and reassuring readers at the same time. The following are a few excerpts from this statement, highlighting these sentiments. ‘Makara’s due diligence has progressed, and in the course of its due diligence Makara has proven to be a professional and serious fund. Still, the parties will not have a definitive deal in place by the mid-April target.’ ‘tZERO plans to continue facilitating Makara’s diligence, but is not under any exclusivity with Makara or GSR and has retained advisors to pursue parallel alternatives. We will update shareholders after tZERO signs definitive documents.’ ‘Our retail firm is recovering more dramatically than I anticipated and discussed during our Q4 2018 earnings call. In addition, tZERO is on track to introduce the products described in that phone call. Our intense focus on execution is paying off.’ Many Pots This news may be slightly disheartening, as it represents, not the first, but second hiccup in the investment process. Despite this setback, tZERO has been on a tear over the last year. They are not being held back by this process. tZERO has their hands in many pots, with endeavours resulting in the launch of a trailblazing secondary market for digital securities. Beyond this, tZERO has seen progress through adoption, and the awarding of patents. tZERO tZERO is a United States based company that was founded by Patrick Byrne. A subsidiary of Overstock, tZERO functions as a platform catering towards the digital securities sector. Founder, Patrick Byrne, has reiterated his strong belief in digital securities multiple times over the past year. He has gone so far as to shift his entire focus from Overstock to tZERO and its ongoing development. Unmoved by ‘crypto winter’, Patrick Byrne has, in the past, commented to The Wall Street Journal, on the potential of tZERO. He stated, “I don’t care whether tZERO is losing $2 million a month…We think we’ve got cold fusion on the blockchain side.” In Other News tZERO is a regular in our news feed, as they have been pivotal in establishing the digital securities sector in its infancy. Below are a few articles detailing past developments pertaining to this impressive and important company. GSR Capital turns to tZERO for the Tokenization of Cobalt tZERO Completes Distribution of Security Token Overstock Repositions Blockchain Executives as tZERO Launches The post Due Diligence Process Delays tZERO Investment appeared first on . Reports Progress of tZERO Equity Transaction with GSR and Makara

SALT LAKE CITY, April 18, 2019 (GLOBE NEWSWIRE) --, Inc. (NASDAQ:OSTK) has released the following statement from company CEO and founder and tZERO Executive Chairman Patrick M. Byrne on the progress of the previously-announced equity investment from GSR Capital and Makara Capital:     Dear Owners, I write to update you on tZERO's negotiations with Makara and GSR Capital on the previously-announced equity investment in tZERO. Makara's due diligence has progressed, and in the course of its due diligence Makara has proven to be a professional and serious fund. Still, the parties will not have a definitive deal in place by the mid-April target. tZERO plans to continue facilitating Makara's diligence, but is not under any exclusivity with Makara or GSR and has retained advisors to pursue parallel alternatives. We will update shareholders after tZERO signs definitive documents. I remind shareholders of the $30 million binding tZERO security token purchase agreement between Overstock and GSR, explained in detail in our Q2 2018 10-Q filing. Under that agreement, GSR has a ...Full story available on

TRON/EOS Top Rankings, XRP In Middle East, Bakkt Valuation, tZero App & Bitcoin Market Dominance

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Overstock Security Token Exchange, tZERO, Plans to Launch Bitcoin Trading App via Bitsy Startup

tZERO The distributed ledger technology (DLT) arm of America’s leading online retailer, has announced plans to launch its Bitcoin trading app later this year, as part of its larger strategy to revolutionize the capital markets and address the inefficiencies of Wall Street, according to reports published March 22, 2019. tZERO Joins the Bitcoin Movement […]
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Twitter Spoof: BitConnect 2.0 to Return in July; BCC Token to Rise from the Crypto Graveyard?

Bitcoinnect is known for its high yield investment platform The company had a cryptocurrency Bitconnect Coin (BCC) which investors bought with Bitcoin to gain a 0,25% daily interest. The company also has a lending platform and exchange which closed due to warnings from Texas and North Carolina authorities. Some unknown person is however working […]
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MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2%

MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2% A vote about whether to decrease the so-called stability fee for MakerDAO’s ethereum blockchain-baseddecentralized stablecoin DAI has started. The vote was announced on the organization’s blog on May 17. If approved, the latest proposal would decrease the stability fee by 2% to […] Cet article MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2% est apparu en premier sur Bitcoin Central.
Bitcoin Central

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance

Bitcoin bulls have turned out to be more relentless than the most have predicted from its historic prices. However, the fundamentals around Bitcoin [BTC] seem to be stronger than ever with the Bitcoin virus apparently spreading to the east now. Mati Greenspan, the senior market analyst at eToro tweeted, “BTC on the move again… Asian market certainly doing their bit today.” This is coming after a huge pullback on 17th May 2019. A Bullish Marubuzo with was seen in the 0: 00-4: 00 Hours UTC on 19th May as the market broke above $8000 again. This the second time the market has attempted to break it after a huge correction. BTC/USD 1-Day Chart on Bitstamp (TradingView) The other four performing coins Opening Price: $6968 Closing Price: $8109 The weekly gains: 11% Weekly High/Low: $8390/$6178 Binance [BNB] Coin Binance [BNB] coin was trading in the red in the last week’s update trading around $20. Nevertheless, the token started picking up value again as normal operations began at Binance Exchange after the hack. This week Binance also initiated the process of burning token from the Ethereum blockchain to process them on the native Binance Blockchain. BNB/USD 1-Day Chart on TradingView Opening Price: $20 Closing Price: $29.5 The weekly gains: 40.6% Weekly High/Low: $32.2/$19.9 Stellar [XLM] Stellar’s rise was higher than most coins during the week as it held gained 35% on a weekly scale. The Stellar validators were reportedly shut down for two hours on 15th May 2019. As Bitcoin continued to correct and rise, Stellar held it gains above 0.00001750 BTC. XLM/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $0.10 Closing Price: $0.14 The weekly gains: 46% Weekly High/Low: $0.16/$0.117 Ethereum [ETH] Ethereum has been the top performer in leading altcoin gains in terms of total market capitalization. The total market capitalization of Ethereum is above $25 billion. It still accounts for more than 10% of the total capitalization of cryptocurrency markets. Also Read: Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run ETH/USD 1-Day Chat on Coinbase (TradingView) Opening Price: $188 Closing Price: $259 The weekly gains: 38% Weekly High/Low: $281/$185 Tezos [XTZ] Tezos [XTZ] has been one of the best performing coins of the year. It has gained more than 100% before the bull run on Bitcoin began. The gain was influenced by the Coinbase allowing Tezos [XTZ] as the first coin which could be staked/forged on the Coinbase Custody platform. It was on the rise again this week as the market seems to have broken bullish since the beginning of the month. It broke above $1.75 as it set sights on to $2. XTZ/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $1 Closing Price: $194 The weekly gains: 25.4% Weekly High/Low: $207/$157   XRP, Dash, IOTA, and Cosmos [ATOM] The almost all altcoins were in the green on a weekly scale. While the above-mentioned cryptocurrencies rose higher than the rest, XRP, Dash, IOTA, and Cosmo [ATOM] also registered more than 20% gains. The gain in XRP was considerable as it broke above the $18 billion market capitalization. Moreover, the weekly rise is about 25%. The dominance of XRP over cryptocurrency market is about 7%. The rise of Dash, IOTA, and ATOM is 21%, 31% and 23$ respectively on a weekly scale. XRP/USD 1-Day Chart on Bitstamp (TradingView) *The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation. **The data is taken at around 11: 00 Hours UTC on 19th May 2019.  The post Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance appeared first on Coingape.
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