After the SEC's X account posted a post announcing the approval of a Bitcoin exchange-traded fund (ETF), the agency clarified It said the X account had been “compromised” and “has not authorized the listing and trading of Spot Bitcoin exchange traded products.”
The post came amid widespread expectations that the SEC would soon give the green light to a spot Bitcoin ETF, which apparently caused a short-lived uproar. spike The price of the cryptocurrency spiked, but then quickly fell back, likely because people found out that the post had not been approved.
“Today, the SEC approved the listing of #Bitcoin ETFs on all registered national securities exchanges,” the apparently-deleted post read. screenshot. “Approved Bitcoin ETFs will be subject to ongoing monitoring and compliance measures to ensure continued investor protection.”
The SEC and its Chairman Gary Gensler announced that no such authorization had been granted, stating that “@SECGov's Twitter account was compromised and unauthorized tweets were posted. “We have not approved the listing and trading of “. , Gensler tweeted.
“The SEC has determined that there was unauthorized access and activity on the @SECGov “We look forward to working together,” an SEC spokesperson said in a statement, “as the agency and partners across the government investigate the matter and aim to determine appropriate next steps with respect to both the unauthorized access and related illegal activity.” “There is,” he said. report.
Republican Sens. Bill Hagerty of Tennessee and Cynthia Lummis of Wyoming called for clarity on what led to the debacle.
“Congress needs answers about what happened, just as the SEC demands accountability when a public company makes a serious market-moving mistake. This is unacceptable.” Hagerty said. tweeted.
“Fraudulent announcements like those made on SEC social media have the potential to manipulate markets. We need transparency about what happened,” Lummis said. tweeted.
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