By Chris Wack

Creatd Inc. shares were up 40% to 27 cents a share after the company said it appointed John Tabacco as an adviser on its investigation into naked shorts, and to help advance its blockchain strategy.

The creator-first technology holding company said Mr. Tabacco is the former president of tZERO Technologies, a blockchain-based digital security ecosystem launched by Overstock.com Inc.

Mr. Tabacco will lead a team of experts in an investigation of what the company deems abusive trading in its underlying stock. He will also help create an internal operational framework to support the company's recent dual listing on the blockchain securities exchange, Upstream, and will advise on the planned spinoff of Creatd's wholly owned subsidiary OG Collection, Inc. on a blockchain exchange.

Creatd is one of several cryptocurrency companies, including Bit Brother Ltd., that is looking to investigate supposed illegal shorting of their stocks.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

March 03, 2023 12:57 ET (17:57 GMT)

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