Addam Vettese (eToro) | Samsung has made it easier for users of its smartphones to buy and trade cryptoassets. Yesterday, the smartphone company announced a partnership with cryptocurrency exchange Gemini, with Samsung’s Blockchain Wallet now integrating with the Gemini mobile app, allowing users to buy and sell cryptocurrencies. Users will also be able to view their Gemini account balances in the Samsung Blockchain Wallet app, as well as transfer their crypto into cold storage through Gemini’s Custody feature.
Gemini is the first US cryptocurrency exchange to partner with Samsung. “Crypto is not just a technology, it is a movement. We are proud to be working with Samsung to bring crypto’s promise of greater choice, independence, and opportunity to more individuals around the world,” Tyler Winklevoss, CEO of Gemini, reportedly said.
What to watch
Canopy Growth: Canopy Growth is a cannabis company with a $7bn market cap that has put investors through the wringer as part of the rapid rise and subsequent bubble bursting that cannabis stocks have experienced. Its stock soared by more than 2,000% between 2016 and late 2018, hitting a share price of more than $50. The shares sank back to around $25 in late 2018, recovered to their previous highs, and then collapsed once more down below the $20 mark. Currently, the loss-making company’s stock is trading at just over $20. Despite all that, the company’s earnings report today is one to watch for an update on the broader development of the legal cannabis industry, given that the company is among the largest in the sector. Currently, nine analysts rate the stock as a buy and 11 as a hold.