GSR Capital closes investment in tZERO; invests $5 million instead of $400 million

Hong Kong-based GSR Capital has closed investment in Overstock’s security token trading platform tZERO, CoinDesk writes. The company received only $5 million in funding. Originally, per the agreement signed last summer, GSR was supposed to invest more than $400 million in tZERO. Afterwards, the funding was lowered to $100 million in March, and it went down to $30 million a month later.

According to Overstock’s CEO Patrick Byrne, GSR was let out of “all previous contracts.” tZERO CEO Saum Noursalehi believes the investment was “a decent offer.” The investment comprises “$1 million in U.S. dollars, $1 million worth of Chinese Renminbi, and $3 million worth of ‘certain securities.’”

Original source
https://www.theblockcrypto.com/tiny/gsr-capital-closes-investment-in-tzero-invests-5-million-instead-of-400-million/?utm_source=rss&utm_medium=rss&utm_campaign=default

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