Tag: Overstockcom

Class Action Complaint Filed Against Patrick Byrne and Overstock.com

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A new complaint filed in Utah accuses Overstock.com, former CEO Patrick Byrne and former CFO Greg Iverson of securities fraud. The complaint Filed on Friday, Sept. 27, the complaint requests a trial by jury, alleging that Byrne designed Overstock.com’s digital asset-based dividend as a means of punishing short sellers, which other outlets have alleged previously. On the subject, and in language more dramatic than many legal filings, the complaint reads:  “While defendant Byrne had previously, at different times, launched into public tirades over short selling and naked short selling, the…

Overstock.com to Become First Major Firm to Pay Taxes in Bitcoin

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Online retailer Overstock.com (NASDAQ:OSTK) announced that it will pay a portion of its Ohio state business taxes in Bitcoin (BTC-USD), starting from this year. By paying taxes in Bitcoin, Overstock will be become the first major U.S. company to use Bitcoin for tax payment purpoases. Overstock Bitcoin Tax Payment The retailer will pay its commercial activity taxes in Ohio this February using OhioCrypto.com, which allows taxpayers to pay state business taxes with Bitcoin. Ohio is the first U.S. state to offer a cryptocurrency payment system for state business taxes. “We…

Overstock.com Lets Customers Buy Bitcoin via Its Crypto Wallet Portfolio Company

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The blockchain investment arm of U.S. internet retailer Overstock announced that its investment choice Bitsy has begun a limited beta launch of its cryptocurrency wallet and exchange, the companies confirmed in a press release Friday, September 14. Bitsy, which seeks to offer users custody of their holdings via private keys while facilitating password recovery using biometric security, will initially support Bitcoin (BTC) buying, with undisclosed altcoin assets to follow. As a bonus, Overstock CEO Patrick Byrne confirmed, customers would now be able to purchase Bitcoin directly from its website via…