Forget cash, now you can pay for your Gucci slides and bags using bitcoin
Italian luxury brand Gucci will start accepting payments in cryptocurrencies in some of its stores in the US.
Customers will be able to pay using crypto including Bitcoin, Ethereum and Litecoin.
The popular brand says it will also take payments in Shiba and Dogecoin too.
Customers paying in stores with cryptocurrencies will be sent an email with a QR code to use with a digital asset wallet.
Flagship stores will trial the new payment method but a nation wide roll-out is expected soon.
So later this month, head to Rodeo Drive in Los Angeles and New York’s Wooster Street if you wish to pay with virtual currencies.
Gucci joins Microsoft and coffee chain Starbucks in allowing customers to use crypto in all transactions, alongside the US dollar.
Meta responsible for a massive data leak
Meta responsible for a massive data leak as Irish regulator imposes fine
Irish regulator, the Data Protection Commission, has fined Meta $275 million dollars for breaching rules to protect user data.
An investigation found Meta’s Facebook was guilty of allowing sensitive user data to be accessed from the platform. After being downloaded it was later uploaded into an online hacker forum.
Users throughout 2018 and 2019 were most at risk of their private personal data being accessed and shared.
Meta admitted tools it had created to allow people to find their friends using their phone numbers was to blame. The function was removed from the platform soon after the breach was discovered in 2019.
Worldwide, the investigation also found that data was scraped from 533 million Facebook users from 106 countries. This included over 32 million records pieces of information form users in the U.S. and 11 million in the UK.
Even though the data is three or more years old, it may still be of use to cybercriminals keen to impersonate people to procure credit cards, mobile phones and make other online purchases.
This is yet another example of social media platforms being unable to adequately protect their users by devising and implementing preventative pre-emptive security measures.
While governments attempt to hold social media platforms like Meta accountable for the content they allow on their platforms and their lax data security measures, it remains to be seen whether the platforms will actually pay the fines being imposed. Moreover, will the fines result in any genuine change?
META scales back its New York office
Social media giant Meta has opted to scale back its presence in New York, as the company tries to reduce costs through a slowing online ad market.
The company revealed it will be subleasing a small portion of its facilities at a commercial tower at Hudson Yards.
A statement from the company says:
“The past few years have brought new possibilities around the role of the office, and we are prioritising making focused, balanced investments to support our most strategic long-term priorities and lead the way in creating the workplace of the future.”
In October, Meta issued a weaker-than-expected forecast for the fourth quarter and indicated revenue will drop for the period.
As well, the company revealed it was laying off over 11,000 workers, taking steps to become a leaner and more efficient company.
Crypto’s Kraken slashes 30 percent of workforce
One of the world’s largest crypto exchanges, Kraken, is laying off about 30% of its headcount, more than a thousand people.
The company’s co-founder and CEO Jesse Powell says the cuts are being made “in order to adapt to current market conditions.”
Powell wrote in a blog post that slowing growth, prompted by “macroeconomic and geopolitical factors,” had muted customer demand.
“We had to grow fast, more than tripling our workforce in order to provide those clients with the quality and service they expect of us,”
“I remain extremely bullish on crypto and Kraken.”
Crypto exchanges have been buffeted by withdrawals and regulatory scrutiny after the implosion of FTX, which is now spreading to other crypto exchanges.
Who made your favourites list on Spotify?
‘Magic and perfection’ – French Baguette receives heritage status
Epstein estate to pay $155m for Virgin Islands sex-trafficking base
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
Business2 days ago
Twitter users are flocking to smaller platforms
Tech3 days ago
Porn floods Twitter “China” search
Media3 days ago
Kardashian denounces Balenciaga ad
Tech16 hours ago
Russian hacker takes down Vatican website
Business3 days ago
It’s Musk v Twitter in tech war
World2 days ago
Families of Iranian soccer team threatened with jail time & torture
Tech2 days ago
Americans feels more negative than positive about Elon Musk
Crypto1 day ago
Crypto companies on the verge of collapse