In an unexpected turn of events, the US Securities and Exchange Commission’s (SEC) official Twitter account recently announced the approval of a Bitcoin Exchange-Traded Fund (ETF) listing on all registered national securities exchanges.
The official X (formerly Twitter) page tweeted, “Today, the SEC grants approval for Bitcoin ETFs listing on all registered national securities exchanges.”
Crypto enthusiasts and investors reacted positively to the news, hailing it as a significant development for the cryptocurrency market.
The excitement, however, was short-lived, as SEC Chairman Gary Gensler posted a clarification on X minutes later, claiming that the SEC’s Twitter page had been compromised. In contrast to the earlier tweet, Gensler emphasized that the SEC had not approved Bitcoin Spot ETFs.
This unexpected turn elicited a flood of reactions from the cryptocurrency community, with many expressing skepticism and concerns about market manipulation.
Some crypto supporters accused the SEC of attempting to manipulate market sentiment by disseminating false information.
The incident occurred as Bitcoin’s price reached $46,000, adding to the market’s volatility and confusion. Because traders and investors closely monitor regulatory decisions, the false announcement has a significant impact on market dynamics.
The SEC has not provided any additional information about the hacking incident as of yet, and investigations are likely underway to determine the source of the false announcement.
The crypto community is waiting for the SEC to issue official statements and clarifications in order to restore trust in regulatory communications.