Crypto News Roundup: Bitcoin Conference, Ethereum ETF Launch, Ferrari Bitcoin Bet and OpenAI In the Limelight

This past week went by with a lot of buzz especially with the Bitcoin Conference 2024 which ended on July 27. The SEC’s decision on spot Ethereum ETF trading also sparked excitement in the broad crypto market. 

Here is the major recap to keep up with;

Elon Musk and the Bitcoin Conference Speculation

The week started out on an exciting note with crypto enthusiasts speculating if X owner Elon Musk would attend the Bitcoin Conference. 

Their speculations precipitated from two moves that the controversial entrepreneur made around that time. First, Musk changed his X profile picture to one with laser eyes, a move that suggests support in the future of the BTC coin.

In addition, he arrived in Tennessee four days before the much-anticipated event. Although  he claimed that his visit had to do with Grok, which is trained in Memphis. Despite the speculations, Musk did not make any appearance at the conference

SEC Approves Spot Ethereum ETF Trading 

Right at the beginning of the week, the US securities regulator finally gave its nod to spot Ethereum ETF trading. The offerings proceeded to trading afterwards and registered huge trading volume upon their debut. 

Precisely, reports shows that the eight approved Ethereum ETFs including Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and the 21Shares Core Ethereum ETF hit $1 billion in trading volume. 

As it stands, the next pursuit for the crypto ecosystem is the listing of spot Solana ETFs as well.

Ferrari Extends Bitcoin Payment to EU Customers 

It is quite obvious that the crypto industry is growing to penetrate the traditional financial sector. Luxury car brand Ferrari revealed its plans to start accepting Bitcoin and crypto payments for its products within the European Union. Noteworthy, this payment option is already available to the US-based customers of the Maranello-based luxury cars company.

To a large extent, the decision to adopt this strategy in the EU is fueled by the increasing interest from Ferrari’s affluent customers who are keen on using digital currencies for high-end purchases. 

OpenAI Unveils SearchGPT 

On the Artificial Intelligence (AI) side, OpenAI unveiled its latest innovation which is a search engine that might compete with Google Search. Dubbed SearchGPT, this AI model is still in the prototype phase and also going through the ‘product testing’ phase. 

According to CEO Sam Altman, this new technology has the potential to transform how users engage with online data. With SearchGPT, OpenAI promises swift, precise responses with transparent sources.

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