Sony to restart cryptocoin exchange Whalefin

[Rikafip]

Sony is still… kind of… big in Japan.

Not as big in anywhere else in the world. Playstation and some mirrorless cameras and that’s pretty much what sony is at the moment.

Sony is much more than PlayStation and cameras. They are the biggest music record company in the world (Sony Music) and are behind one of the biggest movie studios in the world (Sony Pictures) and God knows what else. These guys are in everything so that's why it's no surprising that they went into crypto as well.

[FinneysTrueVision]

If we look closer at the story we will see that the exchange was actually acquired by one of Sony’s subsidiaries. A few days ago there was also some people on Twitter saying that Sony was launching an Ethereum layer 2 blockchain and speculating that we would have crypto in Playstation games. Sony is a large conglomerate, just because a company they own is involved with crypto doesn’t mean that Sony as a whole is going to adopt crypto across every service they offer.

[RickDeckard]

Sony is much more than PlayStation and cameras. They are the biggest music record company in the world (Sony Music) and are behind one of the biggest movie studios in the world (Sony Pictures) and God knows what else. These guys are in everything so that's why it's no surprising that they went into crypto as well.

Indeed. Sony total business empire is quite extensive but most people only know them due to Playstation (I assume most people), television and probably cameras. If we take a look at the full picture the reality is much, much more[1]:



Gaming is still responsible for Sony biggest revenue - in 2023 represented more than $25 billion dollars - followed by electronics, products & solutions and then probably financial services. It will be interesting to see how this new venture will behave in their books and if they will put it in a single category (easier to track) or if they are going to blend it in in an already existing category.
[1]https://www.statista.com/statistics/297533/sony-sales-worldwide-by-business-segment/

[Rikafip]

Indeed. Sony total business empire is quite extensive but most people only know them due to Playstation (I assume most people), television and probably cameras.

For me, the first thing I think of when I hear about Sony are their TVs. I still remember the day my father brought their top of the line CRT TV (afaik it was called Trinitron series), and they are (afaik) still the market ledaer in high end TV market.

It will be interesting to see how this new venture will behave in their books and if they will put it in a single category (easier to track) or if they are going to blend it in in an already existing category.

Its kinda makes sense to add thet exchange business into "financial services" category.

[RickDeckard]

It will be interesting to see how this new venture will behave in their books and if they will put it in a single category (easier to track) or if they are going to blend it in in an already existing category.

Its kinda makes sense to add thet exchange business into "financial services" category.

My first assumption would be that one as well but upon checking what their financial services encompasses[1] it doesn't feel like it would encompass the exchange - considering their nature - within that category:

It operates various businesses, including both life and non-life insurances, online banking, credit card settlement, nursing care, and venture capital.

Still, it would be nice to have it as a separate business to see how much it grows YoY, but let's see what happens in the long term...
[1]https://en.wikipedia.org/wiki/Sony_Financial_Group