By CCN Markets: What do Coinbase Global CFO Alesia Haas and Overstock.com CEO Patrick Byrne have in common? Both believe that security tokens are the future, according to a panel discussion hosted by Fortune. Now that blockchain startup fundraising is in its second act, Byrne…
By CCN Markets: What do Coinbase Global CFO Alesia Haas and Overstock.com CEO Patrick Byrne have in common? Both believe that security tokens are the future, according to a panel discussion hosted by Fortune. Now that blockchain startup fundraising is in its second act, Byrne expects that security tokens will be the next “killer app.” Byrne’s Overstock.com was one of the first movers among merchants supporting bitcoin purchases, though crypto transactions never gained traction at the e-commerce company.
He’s also behind tZero, which is a regulated trading platform for security tokens. He says the company has poured between $150 million and $200 million of “shareholder money” to build a system that is SEC-friendly. Byrne is no stranger to run-ins with the securities watchdog, which is why he was sure to dot the i’s and cross the t’s.
“I knew that I had to be like Caesar’s wife, above reproach. I had to go right down the middle of the fairway up the front steps to the SEC. And that is how we’ve done it.”
Byrne also teased that we’ll see “some very interesting things” in the current quarter involving security tokens, which are regulated tokens, though he kept the details close to the vest. Coinbase agrees security tokens are the wave of the future, though a lot of work still must be done to bring them to the forefront.
Meanwhile, Coinbase, which incidentally is a member of Facebook’s Libra consortium, picked a bullish day in the crypto markets to launch real-time price alerts. With the bitcoin price currently trading above $9,500 at a new 2019 high, Coinbase unveiled “real-time price alerts for any cryptocurrency supported by” the exchange, which is a feature available on the mobile app.
Now that bitcoin appears to have the momentum to carry it to $10,000, those crypto price alerts might come in handy.
This article was edited by Gerelyn Terzo.
Last modified: January 11, 2020 12:56 AM UTC