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Investors in crypto have endured wild moves in recent months, but this has not fazed asset managers who are preparing to use the blockchain technology behind cryptocurrencies to break funds into bite-sized units, or tokens, to sell to small savers.
Bitcoin fell 7.7 per cent in the space of just a few minutes on one day last week, following a 15 per cent drop on one day in June as aggressive rate hikes by major central banks and ultra-high inflation prompted investors to ditch high-risk assets.
The sector is also facing other issues, with Celsius this week suing a former investment manager for losing or stealing tens of millions of dollars in assets before the crypto lender went bankrupt last month.
Bitcoin fell 7.7 per cent in the space of just a few minutes on one day last week, following a 15 per cent drop on one day in June as aggressive rate hikes by major central banks and ultra-high inflation prompted investors to ditch high-risk assets.
The sector is also facing other issues, with Celsius this week suing a former investment manager for losing or stealing tens of millions of dollars in assets before the crypto lender went bankrupt last month.
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LG, the South Korean electronics giant, is currently developing a cryptocurrency wallet app that will be launched later this year. The wallet, called Wallypto, will be part of a new business phase for the company, which recently abandoned its mobile hardware business and pivoted to software solutions. Wallypto will support only Hedera Hashgraph assets at launch.
LG to Enter the Cryptocurrency Wallet Business
More and more tech and traditional finance companies are putting funds behind crypto-based businesses and operations. LG, the South Korean tech conglomerate, is getting into the cryptocurrency service business. According to reports from local media, the company is developing a new software cryptocurrency wallet, called Wallypto.
This development is part of the company’s strategy to diversify its product portfolio, as it pivots to include new activities. LG abandoned its mobile hardware division on July 2021, and is now moving to software and other platforms.
The wallet, which
LG to Enter the Cryptocurrency Wallet Business
More and more tech and traditional finance companies are putting funds behind crypto-based businesses and operations. LG, the South Korean tech conglomerate, is getting into the cryptocurrency service business. According to reports from local media, the company is developing a new software cryptocurrency wallet, called Wallypto.
This development is part of the company’s strategy to diversify its product portfolio, as it pivots to include new activities. LG abandoned its mobile hardware division on July 2021, and is now moving to software and other platforms.
The wallet, which