Softbank Makes Multiple Crypto Moves This Month

SoftBank, the Japanese tech incubator giant notably had an active May till now. However, the firm made a number of low-key investments in a number of projects such as crypto, non-fungible token (NFT), and decentralized finance (DeFi).

Recently, Japanese media outlet Coin Post mapped SoftBank’s investment movements in the crypto industry in the past few weeks. However, this shows that the company is ready to take a deeper look into the crypto space.

Masayoshi Son, who is the CEO of the firm, last year explained the tale of his own personal woes with a previous investment on Bitcoin (BTC), which he is not keen to repeat.

More so, earlier this month, Son mentioned to SoftBank investors that he has no plans to buy Bitcoin like the style of Tesla, according to a Bloomberg report.

Even more, the tech investors took a huge step back from crypto last year. This happened when Yahoo Japan, which SoftBank gains a 48% stake in, sold its TaoTao trading platform to the ever-crypto-keen SBI Group.

For instance, the firm’s recent NFT and DeFi investment activity is anything to go by. This looks like Son and his firm are not yet done with crypto. More so, in the DeFi space, SoftBank’s Singaporean subsidiary made an undisclosed investment in the O3 protocol, as per O3Labs Tweet.

SoftBank Took Part in Angel Investment Rounds

Even more, SoftBank has also taken part in angel investment rounds that raised over $4.1 million for the digital market platform Epik Prime. In addition, other angel investors involved in the project include JPMorgan, Goldman Sachs, and Morgan Stanley. Added to this, Warner Music Group, Sony, Universal, and China’s Tencent Games also stumped up investment.

Furthermore, Epik Prime confirmed the news on Twitter, explaining that it had “excellent partners, a highly professional team of experts and world-class advisors.”

Follow us on Twitter, Telegram and Google News

Source: https://coinquora.com/softbank-makes-multiple-crypto-moves-this-month/