Overstock.com Blockchain Subsidiary tZERO Takes Stake in Siebert Financial Parent, Kennedy Cabot
Summary
NEW YORK--(BUSINESS WIRE)--tZERO, the blockchain subsidiary of Overstock.com (NASDAQ: OSTK), has agreed to take a 1% stake in Kennedy Cabot Acquisition Holdings (KCA). In keeping with Muriel Siebert’s storied history, the companies intend to continue to deliver world class traditional brokerage, IRA and Robo Advisory products. We intend to work together with tZERO at the leading edge of the crypto revolution.” Overstock.com, Inc. Common Shares (NASDAQ:OSTK) / Series A Preferred (Medici Ventures’ t0 platform: OSTKP) / Series B Preferred (OTCQX:OSTBP) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, décor, rugs, bedding, and home improvement. Such forward looking statements involve risks and uncertainties and known and unknown factors that could cause the actual results of the Siebert Financial Corp. (the “Company”) to be materially different from historical results or from any future results expressed or implied by such forward looking statements, including without limitation: changes in general economic and market conditions; changes and prospects for changes in interest rates; fluctuations in volume and prices of securities; changes in demand for brokerage services; competition within and without the brokerage business, including the offer of broader services; competition from electronic discount brokerage firms offering greater discounts on commissions than the Company; the prevalence of a flat fee environment; limited trading opportunities; the method of placing trades by the Company’s customers; computer and telephone system failures; the level of spending by the Company on advertising and promotion; trading errors and the possibility of losses from customer non-payment of amounts due; other increases in expenses and changes in net capital or other regulatory requirements. Launched in 2014, Medici Ventures is a wholly owned subsidiary of Overstock.com, Inc., created to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions.