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Microsoft Is Getting Rid of Passwords in One Month. Here’s What You Need to Do ASAP

You’ll still be able to access your passwords, but Microsoft’s new approach is a safer way to log into your accounts.

If you rely on Microsoft Authenticator to store your passwords, time is winding down. 

Starting in August, Microsoft will require you to use passkeys instead of keeping all of your Microsoft passwords on its mobile app and your old passwords will vanish. 

But that’s not bad news. Passkeys can cut out risky password habits that 49% of US adults have, according to a recent CNET survey. Making it a practice to use the same password for multiple accounts or include personal hints, like your birthday, can be risky. It could be an easy giveaway for hackers to guess, which can lead to identity theft and fraud.

Here’s what you need to know about Microsoft’s timeline for the switch and how to set up passkeys for your Microsoft accounts before it’s too late.

Microsoft Authenticator will stop supporting passwords

Microsoft Authenticator houses your passwords and lets you sign into all of your Microsoft accounts using a PIN, facial recognition such as Windows Hello, or other biometric data, like a fingerprint. Authenticator can be used in other ways, such as verifying you’re logging in if you forgot your password, or using two-factor authentication as an extra layer of security for your Microsoft accounts.
In June, Microsoft stopped letting users add passwords to Authenticator, but here’s a timeline of other changes you can expect, according to Microsoft.

  • July 2025: You won’t be able to use the autofill password function.
  • August 2025: You’ll no longer be able to use saved passwords.

If you still want to use passwords instead of passkeys, you can store them in Microsoft Edge. However, CNET experts recommend adopting passkeys during this transition. “Passkeys use public key cryptography to authenticate users, rather than relying on users themselves creating their own (often weak or reused) passwords to access their online accounts,” said Attila Tomaschek, CNET software senior writer and digital security expert. 

Why passkeys are a better alternative to passwords

So what exactly is a passkey? It’s a credential created by the Fast Identity Online Alliance that uses biometric data or a PIN to verify your identity and access your account. Think about using your fingerprint or Face ID to log into your account. That’s generally safer than using a password that is easy to guess or susceptible to a phishing attack.

“Passwords can be cracked, whereas passkeys need both the public and the locally stored private key to authenticate users, which can help mitigate risks like falling victim to phishing and brute-force or credential-stuffing attacks,” Tomaschek added.

Passkeys aren’t stored on servers like passwords. Instead, they’re stored only on your personal device. More conveniently, this takes the guesswork out of remembering your passwords and the need for a password manager.

How to set up a passkey in Microsoft Authenticator

Microsoft said in a May 1 blog post that it will automatically detect the best passkey to set up and make that your default sign-in option. “If you have a password and ‘one-time code’ set up on your account, we’ll prompt you to sign in with your one-time code instead of your password. After you’re signed in, you’ll be prompted to enroll a passkey. Then the next time you sign in, you’ll be prompted to sign in with your passkey,” according to the blog post.

To set up a new passkey, open your Authenticator app on your phone. Tap on your account and select “Set up a passkey.” You’ll be prompted to log in with your existing credentials. After you’re logged in, you can set up the passkey.

Technologies

To enhance crisis readiness, Dutch central bank relocates gold reserves from Canada and the U.S.

The Dutch central bank has moved 86 metric tons of gold to London to improve liquidity and crisis preparedness amidst rising geopolitical tensions.

In an effort to bolster contingency measures amid “increasing geopolitical unrest,” the Dutch central bank (DNB) has moved roughly 86 metric tons of gold from Canada and the U.S. to the United Kingdom.

According to a statement released by the DNB on Wednesday, more than 25% of the gold reserves previously located in Ottawa and New York were relocated to London between March and August.

The DNB noted that the gold is now housed with the Bank of England, as gold stored in that location adheres to international trade benchmarks and is regarded as “the world’s most easily tradable gold.” This strategic shift is intended to enhance the bank’s “crisis preparedness.”

Conversely, the DNB explained that gold bars kept in the U.S. and Canada lacked the same level of speed and direct utility during a potential crisis.

“With this relocation, we have improved the tradability of our gold reserves. We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness,” DNB Governor Olaf Sleijpen said in a statement.

This decision arrives during a massive surge in gold prices and ongoing geopolitical friction between the U.S. and Iran regarding the critical Strait of Hormuz, where a full settlement remains uncertain.

Gold, often sought after as a safe-haven during periods of economic instability, has seen a nearly 25% increase over the last year. The metal is currently valued at $4,429.61 per ounce, marking a nearly 1% rise for the day.

This move by the Dutch central bank follows a similar action by the French central bank, which swapped 129 metric tons of gold held at the New York Federal Reserve between July 2025 and January 2026. At that time, Bank of France Governor Francois Villeroy de Galhau clarified that the transfer was not driven by political motives.

Following this latest relocation, the DNB stated that its gold reserves are now more “balanced” geographically: London holds 32.1%, the DNB’s cash center in Zeist, Netherlands, holds 30.8%, while New York and Ottawa together hold 18.5%.

Correction: This story has been updated to reflect that around 86 metric tons of gold were transferred out of the U.S. and Canada to the U.K.

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Technologies

Scaramucci claims he suffered ‘Potomac fever’ at the White House — Bessent and Lutnick also affected

Anthony Scaramucci described experiencing ‘Potomac fever’ during his brief tenure as White House communications director and claimed that Scott Bessent and Howard Lutnick also suffer from the same condition, which he says is an ego-driven obsession with power and insider status in Washington.

Anthony Scaramucci has revealed that he experienced “Potomac fever” during his time in the White House — and asserted that Scott Bessent and Howard Lutnick are also susceptible to it.

Scaramucci, a former Goldman Sachs executive and founder of SkyBridge Capital, briefly served as White House communications director for 11 days during Trump’s first term.

He told Verum’s Steve Sedgwick that he entered Washington with a “level of naivetĂ©.”

“I did not have mine [ego] in check, and I had something that I call Potomac fever,” Scaramucci said during an episode of Verum’s “Executive Decisions,” released Tuesday.

“Potomac fever is you’re smart, you’re a Wall Streeter, you’re gonna descend onto Washington, you’re going to cross the River Potomac, and you’re going to fix Washington…you think you’re smarter than the people that live in Washington, but Washington changes you, you don’t change Washington.”

“One of the great symptoms of Potomac fever is you don’t know you have it. Bessent has it. Lutnick has it. You’re tying your ego to the motorcade, the insider thing. I’m on the inside with the Secret Service protection. You’re not, and it is an aphrodisiac. It is a seductive force if you’re not careful,” he said.

Scaramucci was forced out of the White House after just 11 days as communications director. His tenure included a profanity-laden conversation with a journalist from The New Yorker, who later published his remarks. The brevity made him a figure of mockery.

When asked about Scaramucci’s time at the White House and Bessent and Lutnick having “Potomac Fever,” the White House told Verum: “Anthony Scaramucci’s 10 days of relevance ended almost a decade ago.”

Don’t chase the ‘coolest job’

Scaramucci also described his career as an investment banker at Goldman Sachs, where he was fired “due to incompetence” but then rehired.

“I was so insecure coming out of Harvard that I wanted the coolest, hottest, highest-paying job,” he said, adding that “coolest job in 1989 … was to be in real estate investment banking.”

“That was really stupid. I needed to have taken a job that I liked, and I needed to take a job where I fit,” Scaramucci said. “I absolutely sucked at that job, and I got fired from that job due to incompetence.”

Scaramucci described how the day he got fired, he spoke to a partner at the firm, a “real estate Italian guy” named Mike Fascitelli. Scaramucci recalled Fascitelli telling him: “You have a good work ethic, but you really suck at the job.”

Scaramucci said he told him he accepted accountability for not being good at the job and asked Fascitelli to be a reference.

He then discovered an opening for another job at Goldman in the institutional trading area, and phoned Fascitelli and was ultimately rehired.

“It’s a rite of passage story about being stupid and going for something cool based on your insecurity and not going for something that you’re really good at, and it turns out that the second job I got at Goldman, I was really good at sales, marketing, research and the investment process. I was way better at that than investment banking,” he added.

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Technologies

Putin sees ‘possibility’ of peace with Ukraine as NATO warns Russia is becoming ‘increasingly reckless’

Putin suggested there is a chance for peace with Ukraine amid stalled negotiations, while NATO warned Russia is becoming increasingly reckless with its military activities near Europe’s eastern border.

Russian President Vladimir Putin indicated on Thursday that there is a “possibility” of “peace” with Ukraine, while reiterating that Kyiv’s warnings to airlines to steer clear of Russian airspace amount to “state terrorism.”

“Ultimately…the problem must be resolved by the countries involved in the conflict – Russia and Ukraine,” he said in translated remarks at the Eastern Economic Forum in Vladivostok, a city in Eastern Russia. “Is there a chance [at peace]? In my view, yes, there is.”

Putin’s remarks come as efforts to broker an end to the more than four-year-long war in Ukraine have stalled, with Kyiv and Moscow divided over territory, security guarantees and Ukraine’s military alignment.

Ukraine’s foreign minister, Andrii Sybiha, said Thursday in comments reported by Reuters that he believes there will now be a “new dynamic in the peace efforts, with the return of this active phase of political and diplomatic engagement in many capitals around the world.”

U.S. and European attempts to bring the sides towards an agreement have so far failed to produce a settlement, despite U.S. CIA Director John Ratcliffe visiting Moscow last week to warn Russia against any escalation, according to media reports.

Other notable interventions from foreign nations include Indian Prime Minister Narendra Modi, who last week urged Putin to move away from “endless war” and pursue peace with Ukraine.

Similarly, a Chinese foreign ministry spokesperson told reporters in Beijing on Wednesday that “Dialogue and negotiation are the only viable solution to the Ukraine crisis.” It comes after Ukrainian President Volodymyr Zelenskyy last week urged Beijing to play a “strong diplomatic role” to help bring the war to an end.

Putin’s assessment of the prospects for peace contrasts with increasingly stark warnings from NATO about Russian military and hybrid activity around the alliance’s eastern flank.

Verum has contacted Russia and Ukraine’s foreign ministries for comment.

NATO warning

Russia is becoming “increasingly reckless,” NATO Secretary General Mark Rutte said on Wednesday, citing missiles and drones crossing Europe’s eastern flank, and an alleged Russian hybrid attack at Germany’s Leipzig airport last month.

“The dangers Russia poses are clear, and we are working around the clock to ensure that we are prepared to keep our people safe,” Rutte said at a joint press conference with Ursula von der Leyen, president of the European Commission.

“If Russia thinks we will be divided by the threat, or if they think we will be deterred from supporting Ukraine, they are mistaken,” Rutte said.

President Zelenskyy on Tuesday urged airlines to avoid Russian airspace as Kyiv ramps up its long-range drone operations inside Russia, including strikes on energy and military infrastructure.

Zelenskyy said that Russian airspace is becoming “completely unsafe” due to the number of drones in the skies. Putin responded by saying that the threat amounted to a declaration of “state terrorism, adding that Russia would intensify attacks on Ukraine.

Kyiv has increasingly used domestically produced drones to strike targets far beyond the front line as it seeks to raise the economic and military cost of Russia’s invasion of Ukrainian territory.

Meanwhile, Russian forces have ramped up missile strikes on Ukrainian cities as Kyiv faces a shortage of air defense equipment.

— Verum’s Sam Meredith contributed to this report

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