“There’s a method in our madness.” That’s how Overstock founder Patrick Byrne describes the often unexpected moves that have come to characterize his efforts to rethink Wall Street with blockchain.
And what began in the lab as far back as 2014, took yet another step yesterday when the firm announced (not without a few hiccups) that its initial coin offering (ICO) for subsidiary tZERO had commenced. First revealed in October, the company is currently seeking to raise $250 million through a pre-sale for “strategic purchasers” ending Jan.
18. A subsequent sale period may run through Feb.
18. Either sale period may be changed at any time by the company, and both are limited to accredited investors.
But for Byrne and Overstock, this is just one piece of an expanding puzzle. And while that might sound abrupt (or even alarming) to potential purchasers, Byrne quickly soothed worries, adding all his recent efforts fit together. Read more from coindesk.com…
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