SEC Hacked and Spreads Fake News on Bitcoin ETF Approval
SEC Chairman Gary Gensler revealed that Agency X's (formerly Twitter) account was hacked, spreading fake news about the approval of a bitcoin exchange-traded fund (ETF).
“SEC gov twitter account hacked, and unauthorized tweet posted,” Gensler posted.
Gensler declares Bitcoin ETF ad false
At X, Gensler announced the termination of the SEC's social media account. However, the Post's approval of the Bitcoin ETF space to the regulator significantly falsely warned. This week holds high hopes for an important decision.
“SEC Has Not Approved Listing and Trading of Spot Bitcoin Trading Products.”
The deadline for the SEC to deliver its decision on the ARK 21Shares spot Bitcoin ETF application is January 10.
Despite the positive announcement and subsequent correction, the price impact was not significant. It was a small drop, but then it settled down.
At the time of publication, the value of Bitcoin is $46,066.
Many reacted to the news on social media, creating speculation in the crypto community.
Read more: How to prepare for a Bitcoin ETF: A step-by-step approach
Meanwhile, prominent crypto figure Mike Dudas, an investor at early-stage venture capital firm 6th Ventures, admitted that Gensler was wrong and questioned why the regulator took so long.
“SEC gov approval tweet still exists, absolute clown town in DC two days after Gary Gensler tweets sensitive content from a second twitter account hacked/exploited and releases Bitcoin approval fake news that directly affects the market.”
Speculation that the SEC will post on the approval of the Bitcoin ETF
However, ETF analyst Eric Balchunas offered a theory. He points out that “little evidence points to a hack,” which he believes came from within the SEC, possibly a planned tweet for tomorrow.
This is after BeInCrypto recently reported that ETF analyst Eric Balchunas has reduced the chances of the SEC rejecting the ETF to 5 percent.
However, Gensler cautions against FOMO. Additionally, this is a term that encourages insignificant investment based on media hype, suggesting that it is predictable.
Read more: Who will have the most Bitcoins in 2024?
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