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Crypto Biz: Gucci ‘apes’ into crypto

Published 08/05/2022, 03:00 PM
Updated 08/06/2022, 06:40 PM
Crypto Biz: Gucci ‘apes’ into crypto
BTC/USD
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HOOD
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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.

Gucci becomes first major brand to accept ApeCoin payments

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‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss

Contagion only hit firms with ‘poor balance sheet management’ — Kraken Aus boss

Don’t miss it! What’s next for Bitcoin and Ether?

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