Tagged: medici ventures

Overstock Reports that its Transfer of Blockchain Investments to Pelion Venture Partners is Complete

Overstock (NASDAQ:OSTK) has announced that its blockchain subsidiary, Medici Ventures, has been successfully transferred to Pelion Venture Partners. In early 2021, Overstock announced that had migrated Medici Ventures to a limited partnership while partnering with Pelion Venture Partners to act as the general partner of the… Read More

tZERO Partners with Vertalo on Tech Compatibility

tZERO has announced a partnership with Vertalo, a transfer agent that facilitates digital securities, to integrate Vertalo’s tech stack. tZERO is a registered alternative trading system (ATS), similar to an exchange, and a regulated broker-dealer. tZERO CEO Saum Noursalehi said they are excited to integrate… Read More

Shares in Overstock Jump Following Announcement of Blockchain Spin Out as Overstock Focuses on ECommerce

Shares in Overstock (NASDAQ:OSTK) jumped higher in early morning trading following the announcement that Medici Ventures, a wholly-owned subsidiary of Overstock that focuses on emerging blockchain technology, will be migrated to a new “fund” structure managed by VC Pelion Venture Partners. As reported yesterday, Medici,… Read More

Overstock Converts Blockchain Subsidiary Medici Ventures to a Fund, Enlists VC Firm Pelion Venture Partners to Manage

Overstock (NASDAQ:OSTK) has migrated Medici Ventures to a limited partnership while enlisting Pelion Venture Partners to act as the general partner of the fund. Medici oversees a number of blockchain-focused ventures including tZero. Overstock will be a limited partner in the fund. Shares in Overstock… Read More

Overstock Revenue Increases 111% versus Year Prior, tZERO Revenue at $11 Million, Shares Rise

Overstock (NASDAQ:OSTK) has reported financial results for the quarter ended September 30, 2020. The online retailer and blockchain investor reported that total net revenue came in at $732 million, an increase of 111% year over year. Gross profit was reported at $171 million or 23%… Read More

Overstock Blockchain Subsidiary Medici Ventures Invests $8 Million in Bitt Giving it Controlling Interest

Medici Ventures has invested $8 million into Bitt, a Barbados-based company. The equity investment into Bitt effectively gives Medici control of the company. Medici Ventures is a wholly-owned subsidiary of Overstock (NASDAQ:OSTK) that focuses on blockchain technology. Bitt was founded in 2013 as an infrastructure… Read More

Overstock Rising: Online Retailer Reports Strong Results, tZERO Blockchain Business Still on Track

Overstock (NASDAQ:OSTK) reported results this morning that “represent discipline and a lot of hard work” according to the company. The company said that new customers tripled year over year as many new customers found them during Q2 – boosted by the COVID lockdown. The company… Read More

Overstock Earnings: Revenue, Net Income Down as Company Continues to Lose Money, Blockchain Initiatives Said to be On Track

Overstock.com (NASDAQ:OSTK), an eCommerce site and blockchain company is out with its Q4 earnings report. During Q4 net revenue declined from the same period last year by 18% to $370.9 million. Overall, Overstock generated as loss of $27 million. Overstock CEO Jonathan Johnson commented on… Read More

Overstock Subsidiary Medici Ventures Invests in Vital Chain as Firm Partners with the MetroHealth System

Vital Chain, a blockchain-based platform that digitizes birth and death certificates, has announced a partnership with the MetroHealth System. Vital Chain is majority-owned by Ownum. MetroHealth is a sizeable hospital group and public health system supported, in part, by public funds. Based in Cleveland, Ohio,… Read More

GrainChain, a Blockchain-based Agricultural Solution Developer, Secures $8.2 Million in Round Led by Overstock Subsidiary Medici Ventures

GrainChain, a blockchain-powered agricultural solution developer, revealed on March 6, 2020, that it secured $8.2 million in funding from Medici Ventures, a subsidiary of retail firm Overstock (NASDAQ:OSTK).   GrainChain also received investments from Eden Block, a blockchain venture company, and several other investors.  GranChain’s investment… Read More

Overstock CEO and Blockchain Visionary Patrick Byrne Resigns Following “Deep State” Comments

In a “Dear Shareholders” letter, Overstock (NASDAQ:OSTK) CEO and blockchain visionary Patrick Byrne submitted his resignation as both CEO and board member effective immediately. In afternoon trading, shares in Overstock are up by around 7%. The move by Byrne came following the fallout from comments… Read More

Bitt Digital, Part of Overstock’s Medici Ventures, Becomes First Company to Exit Central Bank of Barbados Sandbox

Bitt Digital Inc., a portfolio company of Overstock’s (NASDAQ:OSTK) Medici Ventures, has become the first company to successfully complete the regulatory sandbox by the Central Bank of Barbados and the Financial Services Commission. Medici Ventures invested $4 million in Bitt in early 2016. The investment… Read More

Overstock Earnings: E-Commerce Delivers Loss but Blockchain Projects are “Some of the Most Significant and Cutting Edge in the World”

Overstock (NASDAQ:OSTK) has reported financial results for the quarter ended December 31, 2018. According to a release from the e-commerce/tech/blockchain firm, both top line revenue and profit declined for the quarter. Shares in Overstock dipped in pre-market trading. In a note to shareholders, CEO and… Read More

Medici Ventures’ Portfolio Company Bitt to Use Blockchain Technology to Conduct a Central Bank Digital Currency Pilot Across Eastern Caribbean Currency Union’s Member Countries

Medici Ventures, a blockchain accelerator and subsidiary of Overstock.com, Inc. (NASDAQ:OSTK) announced on Wednesday its portfolio company Bitt is using blockchain technology to conduct a Central Bank Digital Currency (CBDC) pilot across the Eastern Caribbean Currency Union’s (ECCU) member countries. Founded in 2013, Bitt’s mission… Read More

Overstock Issues Statement on tZero Milestones: An Iterative Journey that Dates Back to 2014

Overstock (NASDAQ:OSTK) has issued a release that touts the accomplishments of its blockchain focused securities platform tZero. Overstock is, of course, a discount e-commerce platform – not exactly a business that one would expect to seek to disrupt the financial services industry. But founder Patrick… Read More

Overstock Makes a Point to Pay Taxes in Ohio Using New OhioCrypto.com Site

Overstock (NASDAQ:OSTK) has issued a statement indicating they will be paying their Ohio taxes using the newly launched OhioCrypto.com site announced in November by Treasurer of Ohio Josh Mandel. Overstock CEO and blockchain advocate Patrick M. Byrne said in the announcement: “We have long thought… Read More

Stealth Mode Fintech Chainstone Labs Completes Equity Transfer with Security Token to Medici Ventures Using Ravencoin Blockchain

Medici Ventures, the blockchain holding company subsidiary of Overstock (NASDAQ:OSTK) says it has completed an equity token transfer using the Ravencoin blockchain. Medici reports it purchased $3.6 million in Chainstone Labs, a stealth Fintech startup that is focused on digital securities. Chainstone, founded by CEO… Read More

Overstock Sub Medici Ventures Invests in GrainChain Blockchain Startup

GrainChain, a blockchain startup for documenting agricultural yield and handling payments, has received an equity investment from Overstock (NASDAQ: OSTK) subsidiary Medici Ventures. According to a note from the company, Medici has invested $2.5 million purchasing a 10% ownership stake in the firm. Medici has… Read More

Overstock Earnings Report: It’s Really All About Blockchain

Overstock (NASDAQ: OSTK) reported Q3 earnings today after the market closed. While the company is best known for its e-commerce expertise, most of the earnings call was about crypto, blockchain, and the future according to Patrick Byrne. As for Overstock,  top-line revenue came in at… Read More

Overstock Sub Bitsy Exchange & Wallet Starts Service on Monday

Bitsy, a “user-friendly bridge” between the US dollar and Bitcoin will be publicly available this Monday (November 12, 2018). Bitsy is a portfolio company of Medici Ventures – Overstocks (NASDAQ: OSTK) – blockchain accelerator. According to a release, Bitsy users will be able to download the… Read More

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