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TZero To Shut Down Its Crypto Exchange Platform

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tZERO, a financial technology firm owned by Overstock, is shutting down its tZERO Crypto exchange platform by March 6th, 2022.

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The shutdown was announced due to a lack of liquidity and trading activity, as well as a shift in priorities.

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The firm is focusing on regulated securities products post-shutdown due to the evolving regulatory climate in the US.

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The tZERO exchange platform was launched in 2019 and was known for facilitating securities offerings.

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Overstock owns roughly 55% of tZERO shares.

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The shutdown of the exchange is not unexpected given the current regulatory climate in the US.

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tZERO's other offerings and services, such as its digital securities trading venue and blockchain-based brokerage, are not expected to be affected by the shutdown.

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Tokenized shares of digital securities were sold to private companies through tZERO's exchange platform.

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tZERO operates as a web-based platform, crowdfunding portal, and provider of insights and analytics for capital markets.

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The firm has not clarified the status of security tokens offered on its exchange once it shuts down.

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