Former Overstock chief financial and risk management manager Robert Hughes is resigning to join a blockchain startup that also includes Overstock CEO and co-founder Patrick Bayne, The Wall Street Journal reported on April 6.
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According to the press release published in Market Exclusive, Hughes informed the company that he will be leaving the job on April 2 and that he will be in the position of chief financial officer at DeSoto, which is half-affiliated to Overstokc, from April 16.
DeSoto first announced in December 2017. announced by Byrne, CEO of de Overstock. The project aims to create a property registration system enhanced with Blockchain technology that protects the rights of the property owner. DeSoto is a joint venture of Medici Ventures, a subsidiary of Overstock and responsible for the firm’s blockchain investments, and Peruvian economist Hernando de Soto.
Gregory J. Iverson, who previously served as CFO at Apollo Education Group, is due April 16. He will start working at Overstock.com as chief financial officer. Iverson, 42, worked at Apollo from April 2007 until this March.
Cointelegraph- Helen Partz