Should real estate’s cryptocurrency kings be worried? On Feb. 28, the Wall Street Journal reported that the U.S. Securities and Exchange Commission (SEC) had issued “dozens of subpoenas” to investigate various cryptocurrency startups that have raised money through initial coin offerings (ICOs), sales of custom digital tokens based on an existing cryptocurrency blockchain, such as ethereum. Among those who have been targeted by the SEC is a subsidiary of the prominent online retailer Overstock. The company, which specializes in home goods and was one of the first major retailers to accept Bitcoin as a form of currency, disclosed that it was providing “documents related to the Offering and the Tokens in connection with its investigation” in an annual 8-K filing to the government agency first uncovered by Bloomberg. tZero, an Overstock.com subsidiary, has raised approximately $110 million after launching a token sale for a new capital exchange in September. “tZERO has been…
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