SoftBank Founder to Lose $130M Due to BTC Investment

Masayoshi Son bought Bitcoin at the peak price and sold in the beginning of 2018
23 April 2019   314

Billionaire and head of the Japanese media corporation SoftBank Masayoshi Son made a major bet on the growth of Bitcoin during its price peak, which led to losses of more than $ 130 million, The Wall Street Journal reports, citing informed sources.

The exact amount of investment is unknown. However, the publication reports that Son acquired “digital gold” at the end of 2017, when BTC price confidently moved to around $ 20,000. Against the background of a sharp fall in early 2018, the investor got rid of the asset, fixing the loss.

Masayoshi Son is famous for his extreme risk appetite. So, at one time he invested in the Alibaba Group after a five-minute conversation with its founder, Jack Ma. Also, Son decided to invest $ 200 million in a startup dealing with solutions for growing vegetables indoors, thinking only about 30 minutes.

Some time ago, SoftBank's investment division sold Nvidia shares for $ 3.6 billion. The decision was made after a significant reduction in the capitalization of the manufacturer of video cards.

Lightning Network Wallet by Breez to be Out For iOs

Solution is based on the lightweight client called Neutrino and it wallet supports Submarine Swaps technology
18 June 2019   211

The Breez payment platform introduced a non-custodial wallet for iPhone that supports the Lightning Network protocol.

The basis of the new product is a lightweight client Neutrino. It is also known that the wallet supports Submarine Swaps technology, which makes it possible to conduct transactions between online addresses and the Lightning Network.

The company's blog says that immediately after installation, the application automatically connects the channel to the so-called Breez hub connected to other Lightning nodes, which allows the user to conduct transactions with any participants in the second-level network. In addition, according to the founder of the company, Ron Scheinfeld, the possibility of a refund is provided in the event of challenging purchases.

In a Lightning economy, people trade money for goods and services. Intermediaries — banks, credit cards, online payment processors, and custodians of any kind — are obsolete. All that remains are the people, trading with each other anywhere, anytime, free to do what each of them thinks is best with their own money. Scale is no longer a concern. Transactions are virtually instantaneous and practically free. The people are free too. Finally.

Roy Sheinfeld
Co-Founder and CEO, Breez

The company also noted that within only two months after the release of the version for Android, Breez benefited from "hundreds of users." Currently, the wallet is in beta.

On the eve of the release of the iOS application, the startup managed to attract $ 500,000 from Recruit Strategic Partners and Fulgur Ventures. The funds will be used to develop an application for merchants, allowing them to accept Lightning-payments.