SEC Denies Staff Involvement in Unauthorized Bitcoin ETF Approval Tweet
Summary:
The US Securities and Exchange Commission (SEC) has refuted claims of its staff being involved in an unauthorized tweet announcing the approval of spot Bitcoin ETFs. Despite official denials, some in the crypto community believe the false announcement was an inadvertent release from within the SEC. Additionally, the use of unlikely hashtags and a Bitcoin icon in the tweet sparked further suspicion. In response to the tweet's impact, the SEC confirmed that neither it nor its staff initiated the unauthorized Bitcoin ETFs tweet. The false information led to significant Bitcoin price volatility.
The US Securities and Exchange Commission (SEC) has categorically refuted claims suggesting that its personnel were implicated in the recent unauthorized announcement on Twitter, falsely stating the approval of spot Bitcoin exchange-traded funds (ETFs). Despite refutations from Gary Gensler, the SEC chair, and official communications from the SEC's Twitter account, there remains a faction within the cryptocurrency sphere maintaining that the post was indeed an inadvertent release from the SEC, not an exterior breach.
The tweet, published on the SEC's account on January 9, falsely announced that approvals had been given for Bitcoin ETFs to be featured on every nationally registered securities exchange.
Certain pundits took a more microscopic approach, notably highlighting the unusual presence of hashtags and a Bitcoin emblem within the "unauthorized" post, which indicated a deviation from the SEC's standard tweeting. Other skeptics drew attention to the choice of words "compromised" and "unauthorized" used by the SEC, arguing that these terms suggest the account wasn't hacked but unauthorized access had taken place from within.
The Bitcoin (BTC) valuation experienced a period of significant volatility in the late hours of January 9 following the official tweet from the SEC Twitter account, erroneously claiming the approval of spot Bitcoin ETFs. A representative from the SEC assured Cointelegraph that no SEC staff member was involved in issuing the duplicitous Bitcoin ETF tweet. The statement read, "The SEC's @SECGov Twitter account has been compromised. The unauthorized tweet regarding Bitcoin ETFs was not made by the SEC or its staff." As this story develops, more details will be released as they surface.
Published At
1/10/2024 2:19:33 AM
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