Crypto Biz: Gucci ‘apes’ into crypto

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…

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Crypto Biz: Elon Musk: The ultimate crypto tourist

Elon Musk’s Tesla proved to be the ultimate paper hands after the electric vehicle maker sold 75% of its Bitcoin (BTC) holdings in the second quarter. I say, good riddance. The cult of personality isn’t good for Bitcoin, and neither is a technologist who treats the asset as his plaything. As far as we are aware, Musk hasn’t sold any of his personal Bitcoin stash and Tesla still has an estimated 10,800 BTC on its books. Still, the less we have to hear about Musk and Bitcoin, the better.  In…

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Blockchain-friendly Wyoming challenges Delaware’s biz incorporation dominance

Amid the patchwork of state and federal regulations for crypto and blockchain firms, Wyoming seems to have established itself as a more progressive jurisdiction for companies involved in the novel technology. For Pierluigi Matera, professor of comparative law at the Link Campus University of Rome, these liberal blockchain laws could see the state chip away at Delaware’s preeminence in business incorporation in the United States. In a paper published on Thursday, Professor Matera argued that Wyoming’s targeted blockchain-friendly approach could pose a significant challenge to Delaware’s dominance. According to statistics…

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