SEC Account on X Hacked, Sparking False Report on Bitcoin ETF Approval

The SEC is expected to decide on Wednesday whether to approve Bitcoin ETFs, which could spark mainstream investment in Bitcoin.

Martin Peers

and

Meredith Mazzilli

Source:TechCrunch

Martin Peers

and

Meredith Mazzilli

Source:TechCrunch

The Securities and Exchange Commission’s account on X, formerly known as Twitter, was hacked, SEC chair Gary Gensler said in a post on the social media platform, adding that the SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

A hacker took control of the account and posted a note saying “Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges,” according to TechCrunch. The post sent the price of bitcoin up, TechCrunch reported, before the post was removed and Gensler issued a correction.

The crypto industry is waiting anxiously for the SEC to decide on whether to approve Bitcoin ETFs, which could make it easier for people and institutions to invest in Bitcoin. An SEC decision is widely expected on Wednesday.