#CryptoCorner Episode 392: tZero (NasdaqGS: $OSTK) Raises $50 Million in Equity Funding, Dutch Central Bank Makes Case for CBDC

#CryptoCorner Episode 392: tZero (NasdaqGS: $OSTK) Raises $50 Million in Equity Funding, Dutch Central Bank Makes Case for CBDC

Point Roberts, WA, Delta BC April 22, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.

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Bitcoin Uptick Coinciding with Senate Stimulus News, tZero Raises $50 Million in Equity Funding, Dutch Central Bank Makes Case for CBDC and Banks in Argentina Pilot Blockchain

Stocks discussed: (NasdaqGS:OSTK)

Bitcoin (BTC) has made a modest comeback in the past day, having climbed from around $6,800-$6,900 – where it had dwelt since late Monday – to a present trading price of about $7,050 according to data from CoinMarketCap. This humble uptick coincides with news that the U.S. Senate passed a stimulus package worth $484 billion yesterday, which principally aims to help small businesses impacted by Coronavirus-related shutdowns and regulations. This adds to the $2.2 trillion economic stimulus package the government passed last month, which similarly resulted in a modest crypto rally.

tZero, the blockchain arm of online retailer Overstock (NasdaqGS:OSTK), announced that it had raised $5 million in an equity investment from Hong Kong-based private equity firm GoldenSand Capital. tZERO CEO Saum Noursalehi commented:

"GoldenSand Capital understands the value of tZERO and its mission to introduce greater efficiency and transparency to capital markets by leveraging blockchain and smart contract technology. We are excited to continue working with GoldenSand Capital to achieve this mission."

The Dutch Central Bank (DCB) published a 45-page report on central bank digital currency (CBDC) yesterday, arguing the merits of a digital Euro and the role of the Netherlands as a testing ground for the attendant system. The DNB wrote in a separate article:

If the decision should be taken within the Eurosystem to experiment with some more concrete type of CBDC, we are ready to play a leading role. The Netherlands provides a suitable testing ground for such an experiment.

Cointelegraph reports that a consortium of banks and tech companies in Argentina under the patronage of the country’s central bank are promoting a pilot program to implement the RSK blockchain from IOV Labs. According to the report, the system “will handle direct debit transactions for customers, where the payment is initiated by the receiver of the funds and not the sender,” and enable the consortium “to trace the claims between different participants like banks, clearinghouses and financial agents.”

Sam Mowers, Investorideas

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