International
Ferrari begins accepting crypto as payment for its cars
Ferrari begins accepting crypto as payment for its cars
Ferrari (RACE.MI) has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters.
The vast majority of blue-chip companies have steered clear of crypto as the volatility of bitcoin and other tokens renders them impractical for commerce. Patchy regulation and high energy usage have also prevented the spread of crypto as a means of payment.
These include electric carmaker Tesla (TSLA.O), which in 2021 began to accept payment in bitcoin, the biggest crypto coin, before CEO Elon Musk halted it because of environmental concerns.
Ferrari’s Chief Marketing and Commercial Officer Enrico Galliera told that Reuters cryptocurrencies had made efforts to reduce their carbon footprint through the introduction of new software and a larger use of renewable sources.
“Our target to reach for carbon neutrality by 2030 along our whole value chain is absolutely confirmed,” he said in an interview.
Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
“Some are young investors who have built their fortunes around cryptocurrencies,” he said. “Some others are more traditional investors, who want to diversify their portfolios.”
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While some cryptocurrencies, such as the second-largest, ether , have improved their energy efficiency, bitcoin still attracts criticism for its energy-intensive mining.
Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year.
Galliera did not say how many cars Ferrari expected to sell through crypto. He said the company’s order portfolio was strong and fully booked well into 2025, but the company wanted to test this expanding universe.
“This will help us connect to people who are not necessarily our clients but might afford a Ferrari,” he said.
The Italian company, which sold 13,200 cars in 2022, with prices starting at over 200,000 euros ($211,000) and going up to 2 million euros, plans to extend the crypto scheme to Europe by the first quarter of next year and then to other regions where crypto is legally accepted.
Europe, the Middle East and Africa (EMEA) is Ferrari’s largest region, accounting for 46% of its total car shipments in the first half of this year.
“Interest is the same in the U.S. and Europe, we don’t see huge differences,” Galliera said.
Countries where cryptocurrencies are restricted include China.
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Ferrari has turned to one of the biggest cryptocurrency payment processors, BitPay, for the initial phase in the U.S., and will allow transactions in bitcoin, ether and USDC, one of the largest so-called stablecoins. Ferrari might use other payment processors in different regions.
“Prices will not change, no fees, no surcharges if you pay through cryptocurrencies,” Galliera said.
Bitpay will immediately turn cryptocurrency payments into traditional currency on behalf of Ferrari’s dealers, so they are protected from price swings.
“This was one of our main goals: avoiding, both our dealers and us, to directly handle cryptocurrencies and being shielded from their wide fluctuations,” Galliera said.
As the payment processor, BitPay will ensure that the virtual currencies come from legitimate sources and not derived from criminal activity or to be used to launder the proceeds of crime or evade tax.
Ferrari’s marketing and commercial chief said that the majority of its U.S. dealers have already signed up, or are about to agree, to the scheme
“I am confident others will join soon,” Galliera said.
(REUTERS)
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International
UK, Australia, Canada Lead 28 Nations in Condemning Israel Over Gaza Aid Killings Probe Closure
UK, Australia, Canada Lead 28 Nations in Condemning Israel Over Gaza Aid Killings Probe Closure
The United Kingdom, Australia, and Canada have condemned Israel’s decision to close a criminal investigation into the 2024 killing of seven World Central Kitchen (WCK) aid workers in Gaza, calling the move “shameful” and “both too little, and too late.” The announcement came on World Humanitarian Day, August 19, 2026, a timing the three governments described as “particularly egregious.”
The Israeli military announced on August 19 that it would not pursue criminal proceedings into the April 1, 2024 strike on the WCK convoy, saying there was no reasonable suspicion of criminal misconduct. The attack killed seven humanitarian workers who were delivering food to civilians in Gaza. The victims included Australian aid worker Zomi Frankcom, three British security personnel, a dual Canadian-US citizen Jacob Flickinger, Polish national Damian Sobol, and Palestinian Saifeddin Issam Ayad Abutaha. The deadly strike occurred despite the convoy having coordinated its route with the Israeli military, and the vehicles were clearly marked with the WCK logo.
In a joint statement issued on August 21, the foreign ministries of the three countries said they had spent more than two years pressing Israel to conduct a swift and thorough investigation into the attack and hold those responsible to account. The governments noted that at the time, the Israel Defense Forces had described the incident as a serious mistake and failure, and that in the more than two years since, they had been pressing for Israel to swiftly and thoroughly consider the case and hold those responsible to account. The statement said the decision to close the case without further explanation was “shameful” and that announcing it on World Humanitarian Day, while the world honoured the courage and sacrifice of humanitarians, was particularly egregious. The governments stressed that the World Central Kitchen attack was not an isolated incident, arguing that the lack of accountability extended to numerous other incidents involving humanitarian workers in Gaza, noting that despite a fragile ceasefire, Gaza remains the deadliest place to deliver aid, with 186 humanitarian workers killed in 2025.
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Australian Foreign Minister Penny Wong separately expressed outrage at the decision, stating that the Israeli military’s response fell short of the standards of accountability Australia expected following the killing of Australian aid worker Zomi Frankcom and six other WCK workers. Wong summoned Israel’s ambassador to Australia, Hillel Newman, to express her concerns and later acknowledged that relations between Australia and Israel were at a “difficult time.” She said the government had learned of Israel’s decision moments before it was announced on World Humanitarian Day, which she described as “especially insulting to Zomi’s loved ones, humanitarians and all Australians.” The foreign minister said key questions remained unanswered, including why two further strikes followed the initial attack, each two minutes apart, why the strikes occurred in a humanitarian “fire control” zone, and Israel’s repeated refusals to hand over audio evidence of the attack. Wong stated that Australia did not have confidence in the IDF’s Military Advocate-General’s process given the many unanswered questions.
Frankcom’s family expressed deep disappointment and called on the Australian government to pursue all available legal avenues for an independent and credible investigation. Her brother, Josh Frankcom, said Israel’s decision was “simply not good enough.” The family has been vocal in demanding accountability for Zomi’s death, and they have questioned why the Israeli military has not provided a satisfactory explanation for the attack.
Israeli Ambassador to Australia Hillel Newman defended the military investigation, saying it was thorough and that the findings should not be attacked if they were not suitable to one’s political agenda. He said the IDF conceded serious failures had led soldiers to mistakenly believe a Hamas fighter was travelling with the convoy, but concluded there was no criminal intent. Newman said Israel was open to discussing reparations for Frankcom’s family if a formal request was lodged, but he stopped short of offering a formal apology, saying doing so could have legal ramifications. The IDF’s decision came alongside announcements that it would open criminal investigations into two other high-profile Gaza incidents: the killing of six-year-old Hind Rajab and six family members in January 2024, and the killing of 15 rescue workers in a Rafah convoy in March 2024. The United Nations has accused Israel of failing to provide adequate accountability for civilian deaths in Gaza, and the latest decision is likely to deepen international isolation for Israel.
UK, Australia, Canada Lead 28 Nations in Condemning Israel Over Gaza Aid Killings Probe Closure
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