Rudy Fares
The Bitcoin Spot ETFs have not yet been approved by the US Securities and Exchange Commission. The SEC’s official Twitter account was hacked and an unauthorized tweet was posted. SEC Chief Gary Gensler addressed this on his personal Twitter account and the SEC Twitter account has since deleted the incorrect tweet.
SEC Twitter Account Hack: What happened?
The Security & Exchange Commission in the USA has apparently approved the Bitcoin Spot ETFs in a tweet. But it was probably a hack . This was stated on SEC Chief Gary Gensler’s Twitter account and the tweet has since been deleted on the SEC Twitter account, confirming that there was an unauthorized tweet.
How did the Bitcoin price react?
The Bitcoin price is currently seeing an explosion to the $48,000 mark within minutes of the announcement of the false approval. In recent days , it has often been predicted that the Bitcoin price would skyrocket if approved. But shortly thereafter, Bitcoin plunged below $46,000 when Gensler conveyed that there had been a hack and the ETFs had not been approved.
What’s next for Bitcoin?
According to several rumors, trading in the Bitcoin Spot ETFs will start on Thursday, January 11th. Companies could then invest in the products of the various financial service providers that now offer the Bitcoin ETF. But at the moment it is uncertain what impact the hack and thus possible market manipulation will have on the approval process.
For smaller investors, this could be a period in which they should be extremely vigilant about what happens in the next few hours and days. A sharp fall in the price could be the result. However, it is also possible that the SEC will actually approve the Bitcoin Spot ETFs in the next 24 hours.
Update 11:30 p.m: SEC and Gary Gensler being mocked
After the hack and the publication of the unauthorized tweet, it quickly became clear that the authority had made massive mistakes. SEC boss Gary Gensler and his agency are met with ridicule:
Furthermore, the following tweet from the SEC account was quoted again and again:
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