Patrick Byrne, Cryptocurrency Winner, Resigns as Overstock CEO


Patrick Byrne, a unusual winner of cryptocurrencies amid the heads of general public U.S. companies, has stepped down from his roles at Overstock.com.

Byrne wrote in a letter to shareholders Thursday that he was stepping down from the business equally as CEO and as a member of its board of directors owing to insurability and other explanations after admitting to a 3-12 months romantic relationship with Maria Butina, a Russian agent at the moment serving 18 months in prison after pleading responsible to fees of acting as a international agent.

He will be changed on an interim foundation by Johnathan Johnson, the latest president of Overstock‘s blockchain initiative Medici Ventures, a press launch mentioned Thursday.

“In his twenty decades as Overstock’s chief, Patrick’s eyesight for Overstock as an innovation chief has appear to fruition,” Johnson mentioned in a statement. “It will be my mission as I acquire the helm to continue on and build on Overstock’s achievements and success.”

Johnson additional that “I am self-assured Overstock’s long term – equally in retail and blockchain – is vivid.”

Byrne mentioned Johnson is “prepared … to efficiently oversee equally our retail and blockchain businesses” in the press launch.

Even though acting as interim CEO, Johnson will continue on to serve on the board of directors for equally Medici Ventures and the company’s stability token buying and selling system tZERO, as perfectly as act as president of Medici.

Patrick Byrne impression by means of CoinDesk archives

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