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       Sony's crypto debut: Tech giant acquires Amber Japan in major move
        
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         * _Sony acquires Amber Japan, marking its entry into the cryptocurre
         * _Sony's acquisition boosted its stock price, Bitcoin ETF inflows, 
        
       Sony, Japan's multi-industry giant, has announced its acquisition of
       Amber Japan, a leading cryptocurrency firm, marking the former's entry
       into the cryptocurrency realm.
        
       ## Sony's crypto debut
        
       According to a press release released on the 1st of July, Amber Japan,
       now under Sony's umbrella, has rebranded and changed its name to
       S.BLOX.
        
       As per a translation of the report,
        
       > "Amber Japan Co., Ltd. (Headquarters: Minato-ku, Tokyo, President:
       > Jun Watanabe), which operates the crypto asset trading service
       > "WhaleFin", has changed its name to S.BLOX Co., Ltd. on July 1,
       > 2024."
        
       It further stated,
        
       > "As a member of the Sony Group, we will work to create new added
       > value in crypto asset trading services by collaborating with the
       > Group's diverse businesses."
        
       The news was met with optimism, underscoring the increasing adoption
       and interest in crypto by major firms.
        
       ## Impact on Bitcoin
        
       Subsequently, soon after this news went live, BTC was able to reach
       the $63K mark after beating around the bush between $59K and $62K for
       several days.
        
       Yet, this surge was short-lived, with BTC trading at $62,738 at the
       time of writing. However, the MACD indicator, standing on the verge of
       crossing above the signal line, indicates potential bullish momentum
       ahead.
        
       Source: TradingView
        
       Additionally, after several days of outflows and minimal inflows, BTC
       ETFs finally recorded significant inflows of $129.5 million on the 1st
       of July, according to Farside Investors.
        
       Source: Farside Investors
        
       ## How did it impact Sony's stock price?
        
       This news also positively impacted Sony's stock price. According to
       Google Finance data, the firm's stock was up by 1.53% at the time of
       writing.
        
       Source: Google Finance
        
       Needless to say, Sony chose Japan for its crypto debut because the
       country has become a leading Bitcoin market, thanks to proactive
       regulation and high consumer awareness.
        
       This makes Japan an ideal location for Sony to launch and expand its
       services.
        
       Remarking on the same, Simon Dixon, CEO of BankToTheFuture.com said,
        
       Source: Simon Dixon/X
        
        
        
        
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