Tag: SEC

SEC Mishap Triggers $220 Million In Crypto Liquidations

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On Tuesday, the crypto market was taken by storm when a tweet emerged from the official X (formerly Twitter) account of the United States Securities and Exchange Commission (SEC) saying all Spot Bitcoin ETF applications had been approved. This had been initially followed by a surge in price but this was short-lived as the price would crash shortly after. The reason for this was because Gary Gensler, chairman of the Commission, revealed that the tweet was fake and the regulator’s social media account had been compromised. SEC Hack Triggers $220…

Bitcoin Supply in Profit Nears 90% as Price Anticipates SEC BTC ETF Approval

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However, CryptoQuant analysts warned in a recent report that high unrealized profits amongst bitcoin holders raise the risks of a sharp price decline. That’s even as rising demand for the Grayscale Bitcoin Trust (GBTC), which has applied for approval to convert to an ETF, narrowing discounts between the GBTC share price and its net asset value, and increasing trading volumes indicate strong anticipation for the spot ETF approval. Original

US Senators urge SEC for clarity following misleading tweet on Bitcoin ETFs

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U.S. Senators J.D. Vance and Thom Tillis have urged the Securities and Exchange Commission (SEC) to provide a detailed report to Congress regarding the Jan. 9 breach of X account. In their Jan. 9 letter to SEC Chair Gary Gensler, Vance and Tillis expressed deep concerns about the SEC’s cybersecurity measures, citing the incident as contradictory to the SEC’s mission of protecting investors, ensuring efficient markets, and aiding capital formation. The letter was in reference to the widely cited breach that led to the dissemination of false information about the…

SEC lawyers to investigate market manipulation amid fake news about Bitcoin ETF

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Lawyers for the U.S. Securities and Exchange Commission (SEC) are calling for an investigation into possible market manipulation. In a conversation with Fox Business, SEC lawyers said that the regulator will investigate itself for market manipulation after moving the price of Bitcoin (BTC) up and down on the basis of a fake post published on the SEC’s X account. The price jump occurred after a false message about approving a spot Bitcoin ETF on Jan. 9. “That said, for the SEC not to approve tomorrow would be unprecedented; it has…

Hacker Seized SEC Phone Number to Post Fake Bitcoin ETF Approval, X Says

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Bitcoin dips 3% on false SEC spot Bitcoin ETF approval

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Unknown hackers hijacked the X account of the United States Securities and Exchange Commission (SEC), posting a fake spot Bitcoin ETF approval message. On Jan. 9, the SEC chair Gary Gensler debunked an announcement claiming spot Bitcoin ETFs were approved. The SEC’s official X account published the notice. However, Gensler warned that the page had been compromised and clarified that no spot Bitcoin ETF had been approved yet. The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of…