Technology goliaths such as Samsung, Apple, and Sony continuously expand their existence in the Web3 category. Earlier in May 2023, Samsung joined forces with South Korea’s central bank to explore the potential of an offline central bank digital currency.
According to recent information, Samsung Next, the venture capital unit of Samsung, has unveiled its strategic investment in Startale Labs through Sony’s Soneium Spark program.
Sota Watanabe founded Startale Labs in 2023; in its initial days, the firm operated independently but later came in alliance with Sony Network Communication.
The available information states that Startale Labs and Astar Network are strategic partnerships working together for the betterment of blockchain technology. Startale Labs has a good reputation in Japan and has support from several government bodies.
In its official blog, Samsung Next notes, “We invested in Startale Labs because the company is at the forefront of solving key challenges in the Web3 ecosystem by providing essential tools and infrastructure, such as the Astar Network, Soneium, and Startale Cloud Services that simplify the development and deployment of decentralized applications (dApps) and smart contracts.”
On April 11, 2024, the official website of Ledger published that it had partnered with Samsung, and the association aimed to launch a new Web3 TV bundle catered to lovers of digital art and culture.
The same day, Samsung revealed a partnership with the metaverse game Wilder World, intending to provide NFT rewards to fifteen customers of Samsung’s exclusive Web3 TV bundle. For Wilder World, this deal will offer the game inroads into millions of houses through Samsung’s smart televisions.
Market News Update
On September 04, Todayq noted that Japan’s financial authorities are gearing up to modify the taxes on digital assets. As per the claims, the nation is planning to cut taxes on digital assets to provide battle playing ground for crypto holders by charging less taxes.
Japan is among the nations with the fastest-evolving cryptocurrency market. However, the United States still stands at the top of the list.
Nations like India, Pakistan, and Bangladesh are mirroring the skyrocketing growth of crypto adoption. The rules and regulations in India are comparatively more challenging than in other nations in Asia.
A recent press release by the US CFTC has noted that it has recovered $18 Million in cryptocurrencies for a bogus ‘crypto hedge fund.’ The commission identified Sam Ikkurty, an Orgenon resident, and Jafia allegedly running a crypto hedge fund and defrauding investors.
In the same case, the District Judge of Illinois court, Mary Rowland, ordered Sam and his associates to pay a penalty of $209 Million.
Crypto Market Price Updates
The fear and greed index powered by CoinMarketCap was at 34, indicating massive fear in the market. When writing, the cryptocurrency market capitalization was $1.98 Trillion after losing 3.98% intraday.
Since the past few weeks, the market cap has been constantly hitting its quarterly low, below 20, 50, 100, and 200 days EMA. In the past hours, Bitcoin fell over 4%, reaching below the mark of $57k.
Similarly, Ethereum, the second most prominent cryptocurrency in terms of market capitalization, lost 3.21% of its trading price, reaching $2,402. THORChain leads the intraday losers list, losing 10.10% of its price, followed by Notcoin, Cosmos, Toncoin, and Bittensor.
Starknet, Helium, and Uniswap are closely competing to top the intraday gainers list, adding a 5% average.
