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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 📈

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.

📺 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.

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”.

What’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: ¥1,708,179,531 ($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 🇵🇭

Photo for the Article - Sony to Launch Crypto Exchange | Key Points | July 03, 2024
  • GCash releases advisory vs Metamax.
    • Read our earlier reports:
  •’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 🎓

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

In Harry Santos’ 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 📜

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 🔦

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 💡

Discover the latest in web3 and AI innovation.

  • Core Scientific…

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

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