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Sony to Launch Crypto Exchange | Key Points | July 03, 2024

Photo for the Article - Sony to Launch Crypto Exchange | Key Points | July 03, 2024

GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. Our feature article today – the Metamax scam unravels.

Here are the latest crypto news stories in the last 24 hours.

Market Analysis and Updates ๐Ÿ“ˆ

Crypto Price Update

Here are the crypto highlights of the day:

  • Bitcoin (BTC): $62,165, down 1.1% over the last 24 hours.
  • Ethereum (ETH): $3,423, down 0.5% over the last 24 hours.
  • Solana (SOL): $153.85, up 4.8% vs the previous day.
  • Lovely Inu Finance: $0.0000004, up 538.1% vs the previous day.
  • Polymath: $0.0820, up 42.6% over the last 24 hours.
  • Joe Boden: $0.0486, down 28.4% vs the previous day.

For the daily price update, check out our post on Facebook.

๐Ÿ“บ Register For Our Upcoming Webcast

Photo for the Article - Sony to Launch Crypto Exchange | Key Points | July 03, 2024

Join us for the next installment of our Beginners Guide Series, where we’ll be speaking with Paolo Dioquino of Pendle Finance, DeFi Philippines, and ETH63. In this session, Paolo will cover the basics of Decentralized Finance (DeFi) and share practical tips to help you navigate this innovative financial landscape.

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Register here!

Feature News: Sony to Launch Own Crypto Exchange

Sony Group-acquired Amber Japan Corporation, now S.BLOX Corporation, is set to revamp its cryptocurrency trading service “WhaleFin”.

Whatโ€™s the significance? This effectively signals Sony’s foray into having its own cryptocurrency exchange, increasing the number of platforms available (initially) to Japanese customers.

  • Major corporations entering the crypto space has always been significant.
    • Previously, mentions of companies like Visa or Mastercard could move Bitcoin’s price.
  • While their impact on prices has lessened, their involvement still signifies growing mainstream acceptance.

The numbers:

  • Capital: ยฅ1,708,179,531 ($10.5 million)
  • Ownership: 100% by Quetta Web Corporation (Sony Group subsidiary)
  • Establishment: January 10, 2018

What’s changing: The revamped crypto exchange will get a new look and feel, a new app, and more cryptocurrencies for trading.

More Sony efforts:

However: It must be emphasized that Sony is one big conglomerate with numerous umbrella companies and more subsidiaries under it. The news about the crypto exchange pertains to a specific subsidiary that may not have been involved in other blockchain efforts of other divisions of the Sony group.

Philippine Crypto News ๐Ÿ‡ต๐Ÿ‡ญ

Photo for the Article - Sony to Launch Crypto Exchange | Key Points | July 03, 2024
  • GCash releases advisory vs Metamax.
    • Read our earlier reports:
  • Coins.phโ€™s Country Manager Jen Bilango is one of the hosts for the upcoming Asia Blockchain Summit.
  • NFTxStreet, in collaboration with Chromania, will have an ask-me-anything (AMA) session on July 4 on its discord server. 

Educational Corner ๐ŸŽ“

Photo for the Article - Sony to Launch Crypto Exchange | Key Points | July 03, 2024

In Harry Santosโ€™ contributed article to BitPinas, he noted that for Bitcoin to succeed, it must be competitive and usable, balancing its secure, decentralized base with the need for engaging projects. Accordingly, check out these 5 Exciting Projects Being Built on Bitcoin.

Regulation Watch ๐Ÿ“œ

Stay informed about the latest regulatory updates and what they mean for you:

  • TRON founder Justin Sun won a landmark defamation case in China, with the Chongqing Yubei District Court ruling that the Chongqing Business Media Group defamed Sun by publishing unverified and false content.
  • The German government moved $94 million worth of Bitcoin to exchanges, following similar recent transactions by both the German and U.S. governments.
  • Crypto firm Circle received an e-money license from France, making it the first global stablecoin issuer compliant with the European Union’s strict MiCA (Markets in Crypto-Assets) regulatory framework.
  • Silvergate Bank, known for its crypto-friendly stance, settled charges with multiple regulatory bodies including the SEC, Federal Reserve, and California’s DFPI, agreeing to pay $63 million. 
  • Paxos received full approval from Singapore’s central bank to offer digital payment token services and plans to issue stablecoins under Singapore’s rigorous regulatory framework.

Community Spotlight ๐Ÿ”ฆ

Crypto Talks by Coach Miranda Miner
Crypto Talks by Coach Miranda Miner

Meet Arlone Abello: He is also known as Coach Miranda Miner in the space. Abello is a thought leader, author, and opinion maker in the crypto and stock market.

  • He is the founder and CEO of Global Miranda Miner Group and the Web3 learning platform Elite University.

Abello is also the founding chairman of the trader organization Innovative Movement of the Philippine Association of Crypto Traders (IMPACT).

More Web3 and AI News ๐Ÿ’ก

Discover the latest in web3 and AI innovation.

  • Core Scientific CEO Adam Sullivan predicts AI will eventually surpass Bitcoin mining in revenue within the next 12 years.
  • The Aptos Foundation proposed deploying Aave V3 on the Aptos mainnet, marking the first potential deployment of Aave on a non-EVM blockchain.
  • Iris Energy raised $413.4 million through an at-the-market (ATM) offering by selling 39.8 million shares between May 15 and June 28.

Web3 Gaming Section ๐ŸŽฎ

The future of web3 is gaming, and here are the latest news.

  • Wild Forest starts its play-to-airdrop season 2 with a game launch.
  • Spielworks acquired Chainmonsters, a cross-platform web3 monster-taming MMORPG, to accelerate its development and bolster its position in web3 game publishing. 
  • Catizen, a Telegram-based web3 game, is expandinng from a single mini-game to a multi-gaming hub with plans to host over 200 games and launch a game engine for Telegram Mini Apps.

Event Announcements ๐Ÿ“…

Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!

Photo for the Article - Sony to Launch Crypto Exchange | Key Points | July 03, 2024

Upcoming events: 

Noteworthy ๐ŸŒŸ

Key updates and announcements from around the crypto and blockchain world:

  • Metaplanet, a Japanese investment adviser, bought $1.2 million worth of Bitcoin (over 20.2 BTC) as part of its strategy to invest $6 million more in Bitcoin, increasing its total holdings to 161.3 BTC.
  • Analysts predict a strong July for Bitcoin and Ether based on historical trends, noting Bitcoin’s median return of 9.6% in July, positive seasonality, and improved liquidity.
  • The U.S. Marshals Service awarded a $32.5 million contract to Coinbase Prime to provide custody and “advanced trading services” for large-cap digital assets.
  • Binance.US, the American arm of Binance, responded to a recent federal court ruling affirming most of the SEC’s charges against it by stating it is prepared for further legal proceedings.

Stay Connected:

Weโ€™d love to hear from you! Reply with your thoughts or questions.

This article is published on BitPinas: Sony to Launch Crypto Exchange | Key Points | July 03, 2024

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