The first phase of the coin sale for Overstock.com’s subsidiary tZERO has met with significant investor backlash, according to CEO Patrick Byrne.
The firm’s later accreditation, CoinDesk reported. The first leg of its sale for futures contracts to be used for coins by established investors started yesterday.. However, it was a little later than planned.. In the statement made by CoinDesk, it attracted great attention after the sale.
Therefore, it was stated that the company will work to shorten the first two months of coin sales. >Byrene;
“Yesterday, 2,000 accredited investors came in and started the application process.” he noted, adding that investors received several phone calls from him.
tZERO is an alternative trading system registered with the US Securities and Exchange Commission (SEC).. The trading system consists of the blockchain within the online retail giant Overstock, which dates back to 2014 and aims to create a completely new trading environment based on a blockchain. announced that the shortening will be limited to accredited investors, which it reserves the right to allocate one month for each sale.. As CoinDesk has learned, the pre-sale to strategic buyers will be limited to $100 million, and the remaining $150 million in currency will be available to all accredited investors. refused to discuss bonuses. The biggest “bonus coupons” will sell for the first $10 million, with an attractive bonus for the next $90 million, he said.. All investors in the offering will receive bonuses in three different ways.
Byrne noted that investors should expect to receive detailed information from the issuance portal SAFTLaunch.com.
Coindesk