Crypto and Consumer Tech News Roundup: AI, European Expansion, and Recovery Funds
A flurry of activity in the cryptocurrency and consumer electronics sectors this week. Samsung is betting big on AI to stay ahead of the curve in the fast-paced global consumer electronics market, aiming for a 4-5% increase in their mobile business this year. Meanwhile, European cryptocurrency traders are seeing more accessibility with recent developments from both established and new players.
Samsung’s AI-Fueled Push in Consumer Electronics
Samsung, a global leader in consumer electronics, is leveraging Artificial Intelligence to drive its products and stay competitive. The company intends to outpace predicted growth in the 2025 consumer electronics market. According to CEO Jong-Hee Han, the Device eXperience (DX) division anticipates a significant increase in their mobile phone market share.
European Crypto Market Gains New Players and Streamlined Access
Several notable moves are shaking up the European cryptocurrency scene. MEXC has introduced Euro support for its Over-The-Counter (OTC) trading platform, making transactions simpler and more accessible for European users. This feature, coupled with zero-fee Euro deposits, is likely to attract new traders.
Backpack Exchange, a new entrant formed by former FTX executives, has made a significant move into the EU market by acquiring FTX EU. This acquisition, with approval from relevant regulatory bodies, opens up opportunities for the expanding exchange to offer a full range of crypto derivatives.
WazirX Users May Get Relief with $70M Recovery Fund
Following a major hack in 2024 that resulted in losses of $240 million for WazirX users, relief may be on the horizon. CoinSwitch has announced a substantial ₹600 crore recovery fund to assist affected users.
In Conclusion
The interconnected nature of the crypto and consumer tech landscapes is evident in this week’s news. The advancements in accessible trading and the focus on innovation in consumer products underscore the evolving nature of both industries.
