Crypto News Recap: Michael Saylor Steps Down As MicroStrategy’s CEO to Focus on Bitcoin

This week on Crypto News Recap, Our beloved Bitcoin advocate Michael Saylor is clearing his schedule to dedicate virtually all of his time to selling the primary actually digital forex. Also, Meta’s Instagram is introducing NFTs to a brand new group of customers worldwide. In addition, crypto nerds can now use their ApeCoin to buy Gucci costly merchandise.

On a much less optimistic notice, Solana’s pockets will get hacked, which stirred the crypto trade this week as 8,000 wallets had been drained from $8 million.

Without any additional ado, let’s dive in!

Michael Saylor To Continue As Executive Chair of MicroStrategy But Leave His Position as CEO To Focus on Bitcoin

Michael Saylor, the lead Bitcoin maxi has introduced this week that he was resigning as MicroStrategy’s CEO in favor of a brand new govt chair submit.

Saylor’s new place will focus on MicroStrategy’s “Bitcoin acquisition technique and associated Bitcoin advocacy initiatives” as of August 8.

“I imagine that splitting the roles of Chairman and CEO will allow us to higher pursue our two company methods of buying and holding Bitcoin and rising our enterprise analytics software program enterprise,” he mentioned.

It’s price noting that MicroStrategy began investing in bitcoin again in August 2020, and it has since advanced right into a platform for getting bitcoin. The firm possessed roughly $2 billion price of the cryptocurrency as of June 30, 2022.

Meta Announces Instagram Expansion of NFT Display Option Worldwide

Meta’s Instagram is introducing NFTs to a brand new group of customers around the globe. The tech behemoth introduced Thursday that its digital collectibles marketing campaign, which started with US customers in May, is increasing globally. 

Users can join a digital pockets, share NFTs, and routinely designate each the creator and collector for attribution. Users can now use augmented actuality stickers in Instagram tales to exhibit and alternate digital collectibles. For a number of years, Snapchat customers have been ready to create and share related in-app results.

Solana Wallet Gets Hacked

This week, Solana customers had been advised to cease utilizing their scorching wallets and switch their cash to chilly storage after an exploit which lead to the theft of an estimated $8 million from round 8,000 affected wallets. 

Users of the Phantom pockets had been additionally impacted by the hack, which was purportedly taken out by way of a safety gap on the community of Web3 pockets supplier Slope. Solana emphasised the necessity for customers to set up new seed phrases and transfer money to chilly storage.

Gucci to Accept ApeCoin Payments

Gucci turns into first largest model to settle for ApeCoin. 

To make this potential, Gucci teamed up with cost service supplier Bitpay. Holders of 12 different digital currencies like Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), and others can also alternate their holdings for a $5,000 GUCCI bag. In addition to accepting cryptocurrency funds, Gucci launched two non-fungible token (NFT) collections this yr, the SUPERGUCCI NFT lineup popping out in February.



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