Overstock to launch token exchange with its own ICO

Retail giant, Overstock, is about to launch its token exchange with its own ICO

11 October 2017 2819

The idea to presale coins of a cryptocurrency or token of a blockchain project has evolved in a crazy successful instrument to raise funds for the development of a new application. Projects held a successful ICO raise millions of dollars, make partnerships and gain popularity. That's why it's vital to keep track of both recent and upcoming token sales.

Following the ICO stream, the retail giant Overstock is going to launch its new regulated token exchange with its own ICO.

The brand new exchange is set to be the first marketplace specifically for trading tokens classed as securities in the U.S., and the ICO is to be the inaugural event for the project. The service is being launched under the umbrella of Overstock's capital markets arm, tØ. As detailed, a tØ-specific token is to be created and sold duting the token sale. Patrick Byrne, Overstock CEO, claims that it will be "distinct from other tokens on the exchange, being a so-called utility coin and not a security", as ibtimes.com reports.

Byrne also argues that building the new service was a natural process.

If there's one company that could legitimately issue a token it should be us.

Patrick Byrne
Overstock CEO

The platform is to launch the new token "before Thanksgiving". In total, the company expects to raise $200 million to $500 million via the ICO.

ICO Blockchain

P. Durov Called to Testify in SEC vs Telegram Case

To testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process

26 November 2019 272

Telegram founder Pavel Durov and two company employees must come to testify during the current trial with the US Securities and Exchange Commission (SEC), CoinDesk writes referring to a document signed on November 25 by Judge Peter Kevin Castel of the New York Southern District Court. .

According to the document, to testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process. The main meeting at which the legal status of the Gram token will be decided is still scheduled for late February.

Also on December 16 in London, testimony should be given by Telegram Vice President Ilya Perekopsky, presumably responsible for contacts with investors during tokensales. The third person called to pre-testify on December 10 in London is Syam Pareh, a Telegram employee, whose name is indicated in the documents for investors.