Share this article
Overstock Taps New Lead for Medici Blockchain Project
Overstock chairman of the board Jonathan Johnson will now serve as president of Medici, its blockchain technology division.
By Pete Rizzo
Updated Sep 11, 2021, 12:25 p.m. Published Aug 3, 2016, 12:26 p.m.
Bitcoin's most innovative merchant has a new blockchain lead.
E-commerce giant Overstock announced this week that chairman of the board and former candidate for Utah governor Jonathan Johnson will take a role as president of Medici, the division launched in 2014 to explore potential applications for blockchain technology. Johnson will also remain chairman of the board.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In statements, CEO Patrick Byrne lauded Johnson as the right choice for the role, while praising Medici as an effort that would pioneer innovations in capital markets.
Byrne said:
"Jonathan shares my pro-freedom instincts, and therefore also shares my excitement about the blockchain revolution’s potential to reduce society’s dependence upon certain rent-seeking and capture-prone centralized institutions."
With the announcement, Johnson will oversee Medici projects including its signature effort tØ, as well as its various investments in bitcoin and blockchain firms including Bitt and Peernova.
The move is perhaps not surprising given Johnson’s past public appearances on behalf of the company. In January 2014, he appeared before regulators in New York as part of hearings that would result in the creation of the BitLicense.
The event saw Johnson discuss the opportunity bitcoin might provide for mainstream retailers, while showcasing the benefits bitcoin payments could bring to consumers.
Image via Hire JJ
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
ICP Rises, Keeping Price Above Key Support Levels
Internet Computer rose, keeping the price above the $3.40 support zone, with early session volume spikes failing to produce a sustained breakout.
What to know:
- ICP rose 0.6% to $3.44 as early session volume surged 31% above average before fading.
- Resistance near $3.52–$3.55 rejected multiple breakout attempts, keeping the token range-bound.
- Support between $3.36–$3.40 held firm, maintaining ICP’s short-term higher-low structure.
Top Stories
