Hello to everyone from one of the most chaotic moments you could witness in the crypto markets in 2024. A few minutes ago, a post from the SEC’s official X Twitter account announced the approval of spot Bitcoin ETFs. Following the post from the corporate account, BTC quickly rose and then fell.
SEC Hacked
SEC Chairman Gary Gensler warned a few minutes ago that X accounts had been hacked. While everyone was on high alert and focused on the approval, the post from the official account was quite convincing. However, when EDGAR was checked, no official approval was seen. Investors who thought this would be reflected in the system after a few minutes were mistaken.
SEC Chairman wrote the following;
“This SECGov Twitter account was compromised and an unauthorized tweet was sent. The SEC has not approved the listing and trading of spot bitcoin ETF products.”
The damage that this speculative move could cause to the real ETF approval is unknown. The SEC is expected to announce its official decision within 24 hours. Without a doubt, this move will significantly negatively affect market sentiment and dampen the spirits of institutions regarding the speculative activity.
