Breaking: US SEC has NOT approved a spot Bitcoin ETF, X account compromised

• The SEC’s chairman confirms {that a} spot Bitcoin ETF has not been accredited, regardless of the fee’s X account claiming in any other case
• Chairman Gensler said that the account was compromised, leading to such a message being Tweeted
• BTC’s worth slides to commerce on the $45,000 stage, ensuing within the crypto group calling for an investigation into the market manipulation

America Securities and Exchanges Fee (SEC) out out a Tweet on its official X account stating that it has accredited Bitcoin ETFs. Nonetheless, this isn’t the true state of affairs as Gary Gensler confirmed that the fee’s social media account was hacked.

The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not accredited the itemizing and buying and selling of spot bitcoin exchange-traded merchandise.

— Gary Gensler (@GaryGensler) January 9, 2024

Notably, the faux X assertion unfold like wildfire within the crypto market instantly after its posting. A number of influencers and builders shared optimistic pleasure on the information printed by the compromised account. The announcement bolstered the optimistic sentiment of getting approval for the Bitcoin product by the tip of this week.

The hacked account even hooked up an announcement below SEC Chairman Gary Gensler’s title. Not like the standard stance of Gensler on crypto, the assertion learn, “At present’s approval enhances market transparency and supplies traders with environment friendly entry to digital asset investments inside a regulated framework.”

Supply: SEC’s X account

The @SECGov X account was compromised, and an unauthorized submit was posted. The SEC has not accredited the itemizing and buying and selling of spot bitcoin exchange-traded merchandise.

— U.S. Securities and Trade Fee (@SECGov) January 9, 2024

BTC’s worth jumps on faux spot Bitcoin ETF approval information

The impact of the faux information was additionally seen on the worth of BTC with the coin inching in the direction of $48,000 instantly after the announcement. Nonetheless, the worth retracted after a corrective assertion was put out by Chairman Gensler. This has even resulted in Bitcoin’s worth sliding to $45,000 earlier than bouncing again to the $46,000 stage and sliding down once more.

Supply: TradingView

In response to CoinMarketCap, at press time, Bitcoin was buying and selling at $45,556 with a market cap of $891 billion. The coin’s worth has registered a downfall of two.75% previously one hour. In the meantime, the previous seven-day chart was nonetheless in inexperienced at 0.93%.

The huge shift within the worth of Bitcoin has resulted within the majority of crypto influencers calling for an investigation into its market manipulation. Cameron Winklevoss – the co-founder of Gemini – stated, “It will nice if the @SECGov would cease manipulating the Bitcoin market.”