SEC Account Breach: Fake Tweet on ETF Approval Fuels BTC Surge to $47,900
In Brief
The SEC's Twitter account was hacked, and a false tweet regarding Bitcoin ETF approval caused Bitcoin to soar to $47,900.
An unauthorized tweet from the official SEC Twitter account claiming approval for Bitcoin ETFs spread excitement in the crypto community. SEC ) granting “approval for Bitcoin ETF Bitcoin's value experienced a 2.5% rise, reaching a high of $47,900, immediately following a tweet from the SEC's official account, sparking premature celebrations in the crypto market over what was perceived as a significant milestone.
Bitcoin However, the information quickly turned out to be incorrect. The SEC later confirmed that there had been no announcement regarding Bitcoin ETF approvals.
Gary Gensler, the SEC chair, took to Twitter to clarify that the SEC’s official account had been hacked and that no approval for trading or listing spot Bitcoin ETFs had been granted. Bitcoin ETF approval on social media was incorrect.
Their Twitter account was breached, leading to an unauthorized tweet. The SEC made it clear that they hadn’t authorized the trading or listing of Bitcoin ETFs.
The account was compromised, and we finished a preliminary investigation. Our findings indicate that there was no breach of X’s security systems; rather, it was the result of someone gaining control over a linked phone number…
Bitcoin Hits New Heights, Then Takes a Dive
Following this information being revealed, Bitcoin took a significant hit, dropping nearly 6% to a low of $45,100 after the SEC account hack and Chair Gary Gensler’s denial of the false claims.
On January 10, 2024, there's a potential shift with over a dozen asset managers eager to establish new funds, some of whom submitted their updated applications yesterday. Bitcoin's value has been on an upward trajectory in recent months, largely buoyed by growing optimism surrounding possible approvals for Bitcoin ETFs.
The market is feeling the pressure with price fluctuations. Many investors are recognizing that the impact of the SEC’s statements on Bitcoin is limited, which is further straining the already delicate market conditions. Many choose to…
The SEC is anticipated to decide on Bitcoin ETFs — Marcel Knobloch, also known as Collin Brown (@CollinBrownXRP)
US Securities and Exchange Commission BlackRock and VanEck submitted amended S-1 Forms Please remember that the information provided on this page is not intended as legal, tax, investment, financial, or any other kind of advice. It’s crucial to invest only what you can afford to lose and to seek independent financial guidance if you have any uncertainties. For more details, we recommend checking the terms and conditions as well as the support pages from the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial reporting, though market conditions can change unexpectedly. Valkyrie Kumar is a seasoned tech journalist focusing on the exciting intersections of AI/ML, marketing technology, and emerging sectors like crypto, blockchain, and NFTs. With over three years in the field, Kumar has built a strong reputation for crafting engaging narratives, conducting insightful interviews, and providing in-depth analyses. Kumar specializes in creating impactful content, including articles, reports, and research works for leading industry platforms. Blending technical knowledge with storytelling prowess, Kumar excels in Demystifying complex tech concepts for diverse audiences in an engaging way.
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