The Securities and Exchange Commission (SEC) recently made headlines when it was announced that Bitcoin ETFs had been approved for listing on all national securities exchanges in the United States. However, this announcement was quickly debunked as false by SEC chairman Gary Gensler.

Gensler clarified that the SEC’s Twitter account had been compromised and an unauthorized tweet had been posted. He stated, “The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”

Despite the false information, the announcement had a significant impact on the market. The price of Bitcoin immediately shot up to a new multi-year high of $47,800, before descending to nearly $46,000.

This is not the first time that false information has caused a stir in the crypto market. In October, a major crypto media website falsely claimed that a Bitcoin ETF had been approved. The following month, XRP experienced a dump following another revelation of a fake BlackRock XRP ETF filing posted to the state of Delaware’s website.

Commenting on the matter, Bloomberg ETF analyst Eric Balchunas speculated that someone may have prepped a planned tweet and put the wrong date, as the tweet would have made perfect sense the following day.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography North America
Countries 🇺🇸
Sentiment negative
Relevance Score 1
People Eric Balchunas, Gary Gensler
Companies Securities and Exchange Commission, Bloomberg, BlackRock, Binance
Currencies XRP, Bitcoin
Securities None

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