Crypto Biz: Gucci "monkey" in crypto

The iconic luxury brand now allows ApeCoin holders to purchase its products through Bitpay. Meanwhile, Michael Saylor has a new job.

What comes to mind when you think of Gucci? Designer handbags, costume jewellery, elegant Swiss watches? What about integrating payments with an ERC-20 governance and utility token that wants to power Web3? Rolls on the tongue, doesn't it? The iconic Italian fashion brand announced this week that it will be expanding its payment options to include Bored Ape Yacht Club affiliate ApeCoin (APE), but only via BitPay. In other words, Gucci will allow you to liquidate your APE in US dollars and spend the proceeds in its stores.

If you're surprised by the news, you should read on to learn more about Gucci's growing crypto ambitions. While you're at it, stick around for this week's Crypto Biz, where we dissect the latest news regarding Michael Saylor and Robinhood. We leave you with a sobering analysis of the Terra-induced crypto market crash from a senior Kraken executive.

Gucci becomes the first major brand to accept ApeCoin payments

If you missed it, Gucci has officially become the first major brand to accept APE payments via Bitpay. The move came months after Gucci announced it would accept 12 crypto assets as payment at more than 100 North American stores. Holders of Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) and other crypto...