SoftBank Records Profit As Vision Fund Rebounds From Losses

Following an $18 billion loss in 2019, SoftBank Vision Fund added nearly 3 billion. The increase is turning SoftBank’s books around. SoftBank Group Corp (OTC: SFTBY) recorded a profit of almost $12 billion in the April-June quarter due to gains from its $100 billion Vision Fund. With this recent achievement, SoftBank is on the path of recovery after reporting its worst-ever loss in the previous quarter. SoftBank Reports Profit Earlier this year, SoftBank announced the largest annual loss of its kind in Japan, totaling $13 billion. This loss is coupled with…

SoftBank Loses Alibaba’s Jack Ma and Posts Worst Losses in History

Alibaba co-founder Jack Ma is stepping down from the board of Japanese tech giant and major blockchain backer SoftBank. After 13 years of close involvement with SoftBank, China’s richest man leaves the board amid SoftBank posting its worst operating losses in its history. According to a May 17 report by Japanese publication Nikkei, Ma’s departure announcement amid Softbank’s Vision Fund reporting record-breaking losses of 1.8 trillion yen ($16.7 billion). Softbank’s total annual losses accounted for 1.36 trillion yen ($12.7 billion) for the year ending March 31, the company reported. China’s…

Major Fintech and Blockchain Backer SoftBank Expected to Lose $12.5 Billion

SoftBank Group Corp (SFTBY), the parent company of Fortress Investment Group is expected to lose $12.5 billion for the fiscal year that ended in March, per an April 13 report from Bloomberg. WeWork — $24 billion loss It seems that Vision Fund is the main culprit of the anticipated loss. SoftBank Group announced that it would lose $24 billion, driven by its ill-fated investment in WeWork. On the bright side, the company has a stake in Slack (WORK), which is doing well because of the shift to remote work amid…

SoftBank Leads $30M Round for Cashierless Stores Startup Accel Robotics

Now, we all know SoftBank for its “unicorn status” investment decisions and so it shouldn’t come as a surprise to many that the investment giant has participated in a Series A round of funding for Accel Robotics which is a San Diego-based startup that has been involved in the cashierless space for a bit now. The funding round also attracted other investors including Toyo Kanetsu Corporate Venture Investment Partnership, RevTech Ventures and New Ground Ventures. Accel Robotics and other technology startups have been looking into the various means and methods…

Softbank Rolls Out Smart Crypto Credit Cards with Advanced Wallet Functions

While we have seen a few crypto-based smart cards over the past year, the Japanese multinational conglomerate holding company Softbank just raised the bar a notch higher as it launched a set of ‘actual’ smart cards with cryptocurrency wallet functionalities. As opposed to previous cryptocurrency cards that perform basic operations of familiar conventional credit and debit cards, the SBC Wallet Cards are designed to perform way more functions, catering to both the users’ security needs and financial needs. The card, released towards the end of November, is aimed at improving…

SoftBank Releases Debit Cards With Built-In Blockchain Wallet

Japanese holding company SoftBank has introduced a new debit card featuring a built-in cryptocurrency wallet. According to a press release on Dec. 1, SoftBank developed a debit card featuring a built-in blockchain wallet in collaboration with United States-based wallet card developer Dynamics. The new product is called SBC Wallet Cards and can be used as a traditional debit card or blockchain wallet. Crypto storage and further expansion Consumers can use the integrated blockchain wallet as both cold and hot digital currency storage and check balance-related information in real-time. Currently, the…

IBM, SoftBank and TBCASoft Partner Up to Revamp the Telecom Industry with Blockchain

The U.S.-based blockchain firm TBCASoft, Japanese multinational conglomerate holding company SoftBank and American tech giant IBM are coming together to disrupt the telecommunication industry with dedicated cross-barrier blockchain solutions. The firms announced a strategic partnership to utilize blockchain technology for a platform specifically designed to address key challenges associated with the industry. The platform will bring industry leaders together, offer new services to telecom carriers and their subscribers, and help to develop new business models. As per the announcement, TBCASoft is allocated with the task of bringing dedicated technology and…

TBCASoft ، IBM و SoftBank تعلن Blockchain الدفع المحمول

منصة blockchain TBCASoft ، التكنولوجيا الضخمة IBM وتكتل الاتصالات SoftBank أعلنت في 22 أكتوبر تعاونا لاعتماد الاتصالات عبر الناقل حل الدفع blockchain. نظام جديد عبر الناقل النسبة للإصدار ، تهدف الشراكة إلى السماح للناقلين باستخدام blockchain من خلال مجموعه الدراسات الحاملة لسلسله الشركات الناقلة (CBSG) التي تاسست من قبل TBCASoft و SoftBank. وأفادت التقارير ان TBCASoft قد إنشات بالفعل سلسله blockchain عبر الشركات الناقلة مع 18 مشاركا. التطبيق الأول الذي تعتزم CBSG لإطلاق هو نظام الدفع عبر الناقل (CCPS) ، الذي يهدف إلى تمكين مستخدمي الخدمات المتنقلة لاستخدام هواتفهم للمدفوعات…

أعلنت TBCASoft ، IBM و SoftBank Blockchain الدفع المحمول

منصة blockchain TBCASoft ، التكنولوجيا الضخمة IBM وتكتل الاتصالات SoftBank أعلنت في 22 أكتوبر تعاونا لاعتماد الاتصالات عبر الناقل حل الدفع blockchain. نظام جديد عبر الناقل النسبة للإصدار ، تهدف الشراكة إلى السماح للناقلين باستخدام blockchain من خلال مجموعه الدراسات الحاملة لسلسله الشركات الناقلة (CBSG) التي تاسست من قبل TBCASoft و SoftBank. وأفادت التقارير ان TBCASoft قد إنشات بالفعل سلسله blockchain عبر الشركات الناقلة مع 18 مشاركا. التطبيق الأول الذي تعتزم CBSG لإطلاق هو نظام الدفع عبر الناقل (CCPS) ، الذي يهدف إلى تمكين مستخدمي الخدمات المتنقلة لاستخدام هواتفهم للمدفوعات…

Is Softbank Right to Stay Away From Crypto After Son’s $130M Bitcoin Loss?

While Bitcoin (BTC) has always been about improving the world’s financial and political wellbeing, this nascent market isn’t all too kind. Over the course of 2018, retail investors across the board lost their shirts, industry employees were laid off, and crypto’s reputation and presence in the mainstream sadly fell off the map. Related Reading: FUD Storm: Mainstream Media Back Bashing Bitcoin the Moment Markets Move But no one entity or investor is likely hurting as much as Masayoshi Son. Reports from mainstream financial news outlets revealed Tuesday that the founder…