Interpretation:
According to reports, Forbes quoted people familiar with the matter as saying that Softbank Group is unlikely to invest in cryptocurrency or other blockchain b…
According to reports, Forbes quoted people familiar with the matter as saying that Softbank Group is unlikely to invest in cryptocurrency or other blockchain businesses before the first half of 2023. People familiar with the matter said that the suspension began sometime last year. A partner of Softbank Group said that we were completely on the sidelines for the rest of this year, perhaps in the first or second quarter.
Insiders: Softbank Group is unlikely to invest in cryptocurrency or other blockchain businesses before the first half of 2023
Interpretation of the news:
Softbank Group is one of the leading Japanese companies that invests in various industries from telecommunications to e-commerce to artificial intelligence. It has also invested in several blockchain companies. However, according to insider reports, Softbank Group has suspended its investment in cryptocurrency or other blockchain businesses until the first half of 2023. This news comes as a surprise to many as Softbank Group was expected to continue investing in this field.
The reason for this suspension is unclear, but sources speculate that this could be due to Softbank Group’s previous investments in cryptocurrency and blockchain that have performed poorly. It is also possible that Softbank Group wants to wait and watch the market trends before investing further.
The partner of Softbank Group stated that they will be sitting on the sidelines for the rest of this year and may possibly continue to do so in the first or second quarter of 2022. This suggests that Softbank Group is not planning to rush into making any investment decisions regarding cryptocurrency or blockchain in the near future.
This news could have a significant impact on the cryptocurrency and blockchain industries. Softbank Group’s investments are known to boost a startup’s credibility and ultimately its valuation. Without Softbank Group’s investment, startups in this field may find it difficult to raise funds from other investors.
Title: Softbank Group Suspends its Investment in Cryptocurrency and Blockchain Businesses Until 2023
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