Beyond, Inc. (BYON)

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BlackRock Trashes Overstocks Cryptocurrency Dividend -- Market Talk
2:22 PM ET 2/14/20 | Dow Jones


1422 ET - Investment giant BlackRock criticized online retailer Overstock.com's decision to declare a shareholder dividend in cryptocurrency tied to the e-commerce company's own blockchain exchange. BlackRock's Feb. 14 public rebuke came a day after Overstock said shareholders voted to let the company move forward with the digital dividend. BlackRock's stewardship team voted against it. The money manager said Overstock didn't address concerns around how the digital security would be traded, priced and custodied. BlackRock is the world's largest investment manager with $7.4T in assets under management. "Based on our analysis and multiple engagements with the company, we believe the board and management team prematurely declared this dividend and did not fully vet the trading process." BlackRock said. Overstock received a subpoena in 2019 from the SEC related to the proposed dividend, the WSJ previously reported. ([e-mail])