SoftBank Group Corp (SFTBY), the parent company of Fortress Investment Group is expected to lose $12.5 billion for the fiscal year that ended in March, per an April 13 report from Bloomberg. WeWork — $24 billion loss It seems that Vision Fund is the main culprit of the anticipated loss. SoftBank Group announced that it would lose $24 billion, driven by its ill-fated investment in WeWork. On the bright side, the company has a stake in Slack (WORK), which is doing well because of the shift to remote work amid COVID-19. Mistimed Bitcoin Investment Son, CEO and founder of SoftBank …

Japanese billionaire and founder of multinational conglomerate SoftBank Group, Masayoshi Son, reportedly lost over $130 million with his bitcoin (BTC) investment, the Wall Street Journal reports on April 23. Per the report, people familiar with the matter claim that Son made the investment at the recommendation of Peter Briger, the co-chairman of asset management company Fortress Investment Group. Fortress Investment reportedly bought bitcoin in 2013; when SoftBank bought Fortress in February 2017, its holdings (including crypto) were worth more than $150 million. However, Son reportedly invested in the coin when it was near its $20,000 all-time-high in late 2017, and …

Japanese tech giant SoftBank is developing a blockchain-powered cross-carrier mobile payments service, the company reported in an official press release published September 12. SoftBank’s new proof-of-concept (PoC) development was announced in partnership with telecoms-focused blockchain firm TBCASoft and Synchronoss Technologies, provider of cloud, messaging, digital, and Internet of Things (IoT) services and platforms. The upcoming mobile payment service will be based on the Rich Communication Services (RCS) global messaging standard and TBCASoft’s cross-carrier blockchain platform. The service will will enable users to conduct peer-to-peer money transfers globally, as well as to carry out internal purchases directly from their device via …