{"id":11414,"date":"2017-11-07T07:02:15","date_gmt":"2017-11-07T15:02:15","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=11414"},"modified":"2026-10-16T22:01:10","modified_gmt":"2026-10-16T21:01:10","slug":"overstock-preparing-launch-record-breaking-500-million-ico","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/overstock-preparing-launch-record-breaking-500-million-ico\/","title":{"rendered":"Overstock Is Preparing to Launch a Record-Breaking $500 Million ICO"},"content":{"rendered":"<p>Online retail juggernaut Overstock has long been a proponent of cryptocurrencies. Their online platform was one of the first to accept Bitcoin as a payment option, and they are ancillary investors in the cryptocurrencies that they collect.<\/p>\n<p>However, at last week\u2019s Money 20\/20 conference\u00a0in Las Vegas, Overstock CEO Patrick Byrne announced that the company would be making a direct foray into the crypto-universe with the launch of an ICO through its subsidiary t\u00d8. Byrne\u2019s statement sent Overstock shares skyrocketing more than 30%, and it laid the groundwork for what\u2019s expected to be the most well-funded ICO in history.<\/p>\n<figure id=\"attachment_12247\" aria-describedby=\"caption-attachment-12247\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-12247\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/11\/patrick-byrne-overtstock-ico-300x169.jpg\" alt=\"\" width=\"300\" height=\"169\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/11\/patrick-byrne-overtstock-ico-300x169.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/11\/patrick-byrne-overtstock-ico.jpg 600w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-12247\" class=\"wp-caption-text\">Patrick Byrne is an American entrepreneur, e-commerce pioneer and CEO of Overstock.com.<\/figcaption><\/figure>\n<p>t\u00d8 is a recently formed subsidiary of Overstock that is, <a href=\"https:\/\/www.axios.com\/overstock-com-launches-massive-ico-2500904695.html\">according to Axios<\/a>, \u201c<em>the first SEC-compliant exchange for companies to trade digital tokens<\/em>.\u201d<\/p>\n<p>Overstock\u2019s ICO will fund this project, which is being led in conjunction with two other companies. Byrne and the wider investment world is predicting an ICO in excess of $500 million, a noteworthy number that is almost double the previous ICO record set by <a href=\"https:\/\/cryptoslate.com\/coins\/filecoin\/\">FileCoin<\/a> earlier this year.<\/p>\n<p>Overstock Chief Executive Officer Patrick Byrne said in a <a class=\"terminal-news-story\" title=\"Patrick Byrne Announces Key Details on tZERO\u2019s ICO at Money 20\/20\" href=\"https:\/\/www.bloomberg.com\/news\/terminal\/OYCI3P3S3GU8\" target=\"_blank\" rel=\"nofollow noopener\">statement<\/a> Tuesday:<\/p>\n<blockquote><p>\u201cThree years ago I stood up in front of an audience for the opening keynote speech at Bitcoin 2014, in Amsterdam, and told the world that the main event of bitcoin is not bitcoin, it is the blockchain, and it would change the world.\u201d<\/p><\/blockquote>\n<p>t\u00d8\u2019s inception is the direct result of two dueling forces: the unprecedented rise in ICO fundraising campaigns and the need for oversight and protection in this area. The SEC has expressed an interest in regulating the ICO market, and several countries, including China, have already banned ICOs until a regulatory system can be established.<\/p>\n<p>By creating an exchange with virtual currencies that can be regulated, t\u00d8 is embracing a legally secure capital raising format that is far outpacing traditional venture capital initiatives.<\/p>\n<figure id=\"attachment_12112\" aria-describedby=\"caption-attachment-12112\" style=\"width: 300px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-12112\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/11\/tzero-ico-300x201.jpg\" alt=\"Overstock ICO\" width=\"300\" height=\"201\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/11\/tzero-ico-300x201.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/11\/tzero-ico.jpg 600w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-12112\" class=\"wp-caption-text\">If Overstock successfully completes the ICO, which is being conducted through its tZero subsidiary, it will be the first major public company to achieve this milestone.<\/figcaption><\/figure>\n<p>Bryne told Axios that he sees regulated ICOs as the capital-raising mechanism of the future that can allow companies to quickly fund projects and even buy back stock shares. Moreover, as a regulated security, ICO backers can earn a percentage of profits much like they do from traditional stock sales.<\/p>\n<p>While it\u2019s known for being forward-thinking in its payment systems, Overstock\u2019s primary business is much more traditional.<\/p>\n<p>They sell discounted merchandise from their online-only store, so the development of an investment platform seems to be a significantly different brand approach. Byrne acknowledged this disparity, and he floated the idea that Overstock and t\u00d8 may ultimately require a split. He\u2019s expressed interested in running the crypto aspect of Overstock, but he has not ruled out overseeing both projects.<\/p>\n<p>t\u00d8 reflects Overstock Inc.\u2019s continued investment in blockchain and cryptocurrencies. The company is already holding half of its Bitcoin payments as an investment, and they have expanded their payment options to include a more diverse array of cryptocurrencies.<\/p>\n<p>As Bryne <a href=\"https:\/\/www.bloomberg.com\/view\/articles\/2017-10-27\/this-ico-looks-an-awful-lot-like-a-share-offering\">told Bloomberg<\/a>,<\/p>\n<blockquote><p>\u201cAll stock securities will eventually become tokens.\u201d<\/p><\/blockquote>\n<p>With t\u00d8, they are attaching their resources and their reputation to the rise and sustainability of cryptocurrencies, and they may be establishing the platform that begins transitioning companies from the stock market to the tokenized ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Online retail juggernaut Overstock has long been a proponent of cryptocurrencies. Their online platform was one of the first to accept Bitcoin as a payment option, and they are ancillary investors in the cryptocurrencies that they collect. However, at last week\u2019s Money 20\/20 conference\u00a0in Las Vegas, Overstock CEO Patrick Byrne announced that the company would [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":11496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Overstock Is Preparing to Launch a Record-Breaking $500 Million ICO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/overstock-preparing-launch-record-breaking-500-million-ico\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Overstock Is Preparing to Launch a Record-Breaking $500 Million ICO\" \/>\n<meta property=\"og:description\" content=\"Online retail juggernaut Overstock has long been a proponent of cryptocurrencies. Their online platform was one of the first to accept Bitcoin as a payment option, and they are ancillary investors in the cryptocurrencies that they collect. 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