Renowned Crypto Advocate, Patrick Byrne, Hangs His Hat Up As Overstock CEO in Light of ‘Deep State' Comments

Renowned crypto champion Patrick Byrne has announced his resignation as Overstock CEO. Byrne was a rare ardent crypto worshipper despite leading a public US company.

In a letter to the shareholders on Thursday, Byrne said he was stepping down as the CEO of the company and also as a member of the board of directors as a result of insurability. Byrne also cited that his romantic relationship with Maria Butina, a Russian agent who is currently serving an 18 months jail time after she pleaded guilty of working as a foreign agent was part of the reason he was resigning.

Byrne’s position will be taken over by Johnthan Johnson in an interim capacity. Johnson is currently the president of Overstock’s blockchain venture Medici Ventures, said a press statement released by the company.

In an acceptance statement, Johnson praised Byrne as a visionary leader who was ardent about innovations and whose under his 20 year tenure the company had achieved greater heights. Johnson said it will be his mission to continue building Overstock’s achievements as well as success.

Johnson stated that he was confident that the company’s future was bright both in retail as well as blockchain.

On his part, Byrne stated that having worked with Johnson for a long time, he had no doubt that Johnson was ready for the job and will successfully oversee both the retail as well as the blockchain businesses.

During his reign as Overstock CEO, Byrne made the company crypto friendly, including the starting of tzero, the company’s crypto token platform. He also made the company to accept Bitcoin as a mode of payment.

Cointelegraph reports that in an acting capacity, Johnson will still serve as a member of the board of directors for both Medici Ventures and the company’s security token trading platform tZERO, as well as act as president of Medici. Meanwhile, Kamelia Aryafar will take Byrne’s place as a board member and executive vice president of Overstock Retail.

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.

Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,472FansLike
2,795FollowersFollow
4,197FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Libra Association’s Policy Director: Multi-Currency Backed Stablecoin Vision Still on Track

Libra has not abandoned its original vision of launching a multi-currency backed stablecoin, according to the organization's Policy Director, Julien Le Goc. Speaking during...

Coinbase Planning for Stock Market Listing that Could Happen as Early as This Year: Report

US-based cryptocurrency exchange Coinbase Inc. has kicked off its plan for a stock market listing that could come as early as this year. The crypto...

Is It Time for Chainlink (LINK) to Retract or Is There Still A Lot to Fuel This Fire

The 12th largest cryptocurrency by market cap has been hitting new all-time highs almost every day this week. The new peak is $6.53, and...

89% of Hodlers Are Worried About Their Crypto, But Only 23% Have A Plan For After Death: Report

An online research report by "after-life" investment experts firm, Cremation Institute, found out nearly 90% of cryptocurrency investors worry about losing their funds...

Real Risk: Circle-Coinbase Consortium Blacklists Ethereum Address Holding $100k Worth of USDC

The CENTRE consortium formed by Circle and Coinbase has blacklisted an Ethereum address holding $100k worth of USDC stablecoin. The transaction on Etherscan shows that...

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.

Start Using Crypto Today