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Overstock's former CEO still owns a large stake in the company's encrypted trading platform, tZero

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He previously cleared Overstock and invested $100 million in cryptocurrencies, gold and silver

Patrick Byrne, Overstock's former chief executive, still owns a majority stake in Overstock's cryptographic token platform, tZero, after selling all of the company's shares, according to BlockBeats.

Byrne reportedly still owns 63,775 shares of tZero. On Nov. 22, Overstock filed a notice of its 2019 special meeting and proxy statement with the securities and exchange commission, showing that the company's former CEO still holds 63,775 series a-1 preferred shares.

In August, Byrn announced he was stepping down as Overstock's CEO and subsequently liquidated his Overstock stake, cashing out about $100 million, BlockBeats reported. Partrick Byrne announced that it had invested all of the proceeds from its Overstock liquidation -- about $100 million -- in securities that were "anti-cyclical," including gold, silver and two cryptocurrencies. He later said on twitter that he had bought bitcoin and Raven.

Original address:https://cointelegraph.com/news/overstocks-former-ceo-patrick-byrne-still-holds-major-tzero-stake

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