RATE Group | Patrick Byrne, Cryptocurrency Champion, Resigns as Overstock CEO
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Patrick Byrne, Cryptocurrency Champion, Resigns as Overstock CEO

23 Aug Patrick Byrne, Cryptocurrency Champion, Resigns as Overstock CEO

Posted at 01:04h in Cryptocurrency News by

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Patrick Byrne, a rare champion of cryptocurrencies among the heads of 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 company both as CEO and as a member of its board of directors due to insurability and other reasons after admitting to a three-year relationship with Maria Butina, a Russian agent currently serving 18 months in prison after pleading guilty to charges of acting as a foreign agent.

He will be replaced on an interim basis by Jonathan Johnson, the current president of Overstock‘s blockchain initiative Medici Ventures, a press release said Thursday.

“In his twenty years as Overstock’s leader, Patrick’s vision for Overstock as an innovation leader has come to fruition,” Johnson said in a statement. “It will be my mission as I take the helm to continue and build on Overstock’s achievements and success.”

Johnson added that “I am…

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