August 22, 2019 Noted cryptocurrency proponent, Patrick Byrne, resigns as CEO of Overstock.

Byrne announced today in a letter to shareholders that he would also step down from the company’s board of directors, citing insurability issues, among other reasons. The move follows revelations that Byrne engaged in a long-term relationship with a Russian agent, who is now serving time in federal prison for conspiracy to act as an unregistered foreign agent. Byrne will be succeeded by Jonathan Johnson, the head of Overstock’s blockchain-focused subsidiary, Medici Ventures, likely signaling the company will continue is crypto endeavors.