Overstock’s CEO Departure Has Nothing To Do With Regulatory Issues Regarding SEC and ICO

    The ex-CEO of Overstock, Patrick Byrne, has recently decided to leave the company. This happened a while ago, though, so you probably know about that. It was recently revealed, however, that his decision had nothing to do with the ongoing investigation that the U. S. Securities and Exchange Commission (SEC) is doing to the company.

    Jonathan Johnson, the current interim CEO, affirmed recently that the investigation of the SEC is basically dormant this year. According to him, the investigation seems to be pretty much stopped since December 2018, so it had no effect on Byrne’s decision to leave.

    The reason for that, Johnson affirmed, is that Overstock complied with all the requirements of information and spent “a king’s ransom” in order to get the necessary information for the SEC.

    Johnson was one of the people who met with SEC executives last year and he was in charge of convincing them that nothing was wrong with the company. So far, it seems that he was at least somewhat successful.

    At the moment, the interim CEO believes that the investigation is basically dead because the SEC deemed that there was nothing worthy of finding. However, as the SEC has not talked about the matter nor stated that Overstock was innocent, the investigation is considered to be still pending.

    This investigation, which was started back in 2017, made the shares of the company decline a lot in price. At the time, it was seen as bad news, but the company seems to have handled it pretty well. Byrne’s withdrawal’s real motive, however, continues to be a mystery at the time of this report.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Hank Klinger
    Hank Klinger
    Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Bitwise Plans To Target Retail Investors With Its Crypto Index Fund

    Bitwise has revealed that plans are underway to allow the retail market to participate in its large-cap index service. According to CoinDesk, Bitwise is working...

    Binance's Educational Platform Opens Up Government Approved Office in Shanghai

    Binance, one of the most popular crypto exchanges in the crypto-verse which also has many subsidiaries including Binance Academy (a blockchain and crypto-centred educational...

    XRP Trying to Retrace Months of Underperformance But Remains in a “Corrective” Structure

    XRP is up 12.5% but could still jump another 23%, A clean break above $0.21 would be “very bullish” Ripple granted an exemption...

    23k BTC on CME Futures and 50k BTC in Options Expiring Today

    Bitcoin is currently down 0.05% in the past 24 hours trading around $6,640 after hitting $6,872 last night, yet again rejected at $7,000 level....

    Microsoft Files Patent To Mine Cryptocurrencies With Verified Body Activity Data

    Giant software manufacturer, Microsoft is seeking to capitalize on the new crypto hype. The firm is seeking to introduce its own cryptocurrency that will...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.