Crypto Biz: Gucci ‘apes’ into crypto
Cointelegraph
Published Aug 05, 2022 03:00PM ET
Updated Aug 05, 2022 06:20PM ET
What comes to mind when you think of Gucci? Designer handbags, fashion jewelry, elegant Swiss watches? What about payment integration with an ERC-20 governance and utility token that wants to power Web3? Rolls off the tongue, doesn’t it? The iconic Italian fashion brand announced this week it would expand its payment options to include the Bored Ape Yacht Club-affiliated ApeCoin (APE) — but only through BitPay. In other words, Gucci will let you liquidate your APE for United States dollars and spend the proceeds at its stores.
If you’re surprised by the news, you should read on to learn more about Gucci’s broadening crypto ambitions. While you’re at it, stick around for this week’s Crypto Biz, where we dissect the latest news surrounding Michael Saylor and Robinhood (NASDAQ:HOOD). We leave you with a sobering analysis of the Terra-induced crypto market collapse from a top Kraken executive.
h3 Gucci becomes first major brand to accept ApeCoin payments/h3 h3 Michael Saylor will step down as MicroStrategy CEO but remain as executive chair/h3 h3 ‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss/h3 h3 Contagion only hit firms with ‘poor balance sheet management’ — Kraken Aus boss/h3 h3 Don’t miss it! What’s next for Bitcoin and Ether?/h3Continue Reading on Coin Telegraph
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Written By: Cointelegraph
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