Overstock's Medici Ventures sees management change as tZERO launch draws near

As the tZERO launch approaches, there is more change afoot in Overstock's blockchain unit. After Steve Hopkins’s recent departure on from his function as Medici Ventures’ chief operating officer and general counsel to become Chief Revenue Officer at tZERO, Joel Weight has been promoted to be the venture fund’s COO, CoinDesk reports. Weight’s promotion shows how important his grasp of technology is for the company, according to Medici Ventures president Jonathan Johnson.

While Stanton Huntington, former associate general counsel for Overstock, will be Medici’s next general counsel, the company still haven’t chosen anyone for the CTO position. Currently, Johnson said, Medici is interviewing internal and external candidates.

“Blockchain is a hot area, people are excited to work there, and I think Medici is seen as a real leader in the space,” he said. “The ability to touch different industries in the portfolio is exciting, and I’m thrilled by the list of candidates that we see, both internal and external.”

Hopkins’ transfer to tZERO is reported to be part of an acquisition deal of crypto wallet Bitsy, a Medici portfolio company.