The major hardware cryptocurrency wallet manufacturer Ledger is in the focus of the latest cryptocurrency news for receiving a $2.9 million investment from the electronics giant Samsung, according to official news coming from a company spokesperson. The news that Samsung invests in Ledger went viral on many cryptocurrency sites even though no further details beyond the initial investment amount were provided.
To be precise, the investment that Ledger has secured from Samsung was 2.6 million Euros ($2.9 million) – something that follows the appointment of Pascal Gauthier which is the firm’s former president as its new CEO. Right now, the former CEO Eric Larcheveque will be redirected to the Executive Chairman of the Ledger’s Board position.
As Larcheveque said in a letter (before the news that Samsung invests in Ledger):
“In this role I will be able to properly focus on strategy and vision, while also overseeing regulator and government outreach, partnerships, customers, broader business relationships and technology thought leadership.”
What’s interesting is that today, an anonymous source told the cryptocurrency industry news outlet CoinDesk Korea that Samsung may also end up developing a public-private blockchain along with its own cryptocurrency token. This project, in addition to the news that Samsung invests in Ledger, will be a major undertaking by the company’s blockchain division.
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In the long run, however, it may help Samsung along with a new asset that is now dubbed Samsung Coin.
The website also quoted the source saying “we expect Samsung Coin to come out in the market, but the direction has not yet been decided,” and quickly entering the altcoin news section with this viral news.
As other sources reported on April 22, Samsung has apparently delayed the launch of its $2,000 folding phone dubbed Galaxy Fold due to series of breakage issues as reported on the best cryptocurrency news sites. Even though fans were expecting another phone packing a crypto wallet, several reviewers have reported the inside of the screen flickering, freezing and dying on the test phones in the very first days.
Now that Samsung invests in Ledger, the company’s focus could shift and we could definitely see an electronics giant in the crypto news sections in the near future.
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