2024

Bitcoin

Gary

Spot

<p><strong>The&nbsp;<a href="https://cryptoticker.io/en/bitcoin-etf-what-are-they-and-why-are-they-important-to-bitcoin-price/" target="_blank" rel="noreferrer noopener">Bitcoin Spot ETFs</a>&nbsp;have not yet been approved by the US Securities and Exchange Commission.&nbsp;</strong>The SEC’s official Twitter account was hacked and an unauthorized tweet was posted.&nbsp;SEC Chief Gary Gensler addressed this on his personal Twitter account and the SEC Twitter account has since deleted the incorrect tweet.</p> 
<figure class="wp-block-image is-resized">
 <img loading="lazy" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/2/bitcoin-coin-with-etf-text-stone-background-concept-entering-digital-money-fund-etf-bitcoin-concept_Easy-Resize.com_.jpg" alt="Bitcoin ETF" class="wp-image-160488" width="638" height="425">
</figure> 
<h2 id="h-sec-twitter-account-hack-what-happened">SEC Twitter Account Hack: What happened?</h2> 
<p><strong>The Security &amp; Exchange Commission in the USA has apparently approved the Bitcoin Spot ETFs in a tweet.&nbsp;But it was probably a hack</strong>&nbsp;.&nbsp;This was stated on SEC Chief Gary Gensler’s Twitter account and the tweet has since been deleted on the SEC Twitter account, confirming that there was an unauthorized tweet.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.</p>— Gary Gensler (@GaryGensler) <a href="https://twitter.com/GaryGensler/status/1744833049064288387?ref_src=twsrc%5Etfw">January 9, 2024</a>
  </blockquote> 
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<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.</p>— U.S. Securities and Exchange Commission (@SECGov) <a href="https://twitter.com/SECGov/status/1744837121406349714?ref_src=twsrc%5Etfw">January 9, 2024</a>
  </blockquote> 
 </div>
</figure> 
<h2 id="h-how-did-the-bitcoin-price-react">How did the Bitcoin price react?</h2> 
<p>The Bitcoin price is currently seeing an explosion to the $48,000 mark within minutes of the announcement of the false approval.&nbsp;In recent days&nbsp;, it has often been predicted that the Bitcoin price would skyrocket if approved.&nbsp;<strong>But shortly thereafter, Bitcoin plunged below $46,000 when Gensler conveyed that there had been a hack and the ETFs had not been approved.</strong></p> 
<figure class="wp-block-image">
 <a href="https://www.tradingview.com/?aff_id=127958" target="_blank" rel="noreferrer noopener"><img src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/2/Bildschirm_foto-2024-01-09-um-22.29.48_Easy-Resize.com_.jpg" alt="Bitcoin course 1 day" class="wp-image-166354"></a>
 <figcaption>
  Bitcoin price in the last 24 hours, source:&nbsp;<a href="https://www.tradingview.com/?aff_id=127958" target="_blank" rel="noreferrer noopener">TradingView</a>
 </figcaption>
</figure> 
<h2 id="h-what-s-next-for-bitcoin">What’s next for Bitcoin?</h2> 
<p>According to several rumors, trading in the Bitcoin Spot ETFs will start on Thursday, January 11th.&nbsp;Companies could then invest in the products of the various financial service providers that now offer the Bitcoin ETF.&nbsp;<strong>But at the moment it is uncertain what impact the hack and thus possible market manipulation will have on the approval process.</strong></p> 
<p><strong>For smaller investors, this could be a period in which they should be extremely vigilant about what happens in the next few hours and days.&nbsp;</strong>A sharp fall in the price could be the result.&nbsp;However, it is also possible that the SEC will actually approve the Bitcoin Spot ETFs in the next 24 hours.</p> 
<h2 id="h-update-11-30-p-m-sec-and-gary-gensler-being-mocked">Update 11:30 p.m: SEC and Gary Gensler being mocked</h2> 
<p>After the hack and the publication of the unauthorized tweet, it quickly became clear that the authority had made massive mistakes.&nbsp;SEC boss Gary Gensler and his agency are met with ridicule:</p> 
<figure class="wp-block-image is-resized">
 <img loading="lazy" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/2/GDbnFAXXEAA6BQW.jpeg" alt="" class="wp-image-166369" width="541" height="444">
</figure> 
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 <img loading="lazy" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/2/GDbp1-XagAAH0uO.jpeg" alt="" class="wp-image-166370" width="526" height="571">
</figure> 
<p>Furthermore, the following tweet from the SEC account was quoted again and again:</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">Careful what you read on the internet. The best source of information about the SEC is the SEC.</p>— U.S. Securities and Exchange Commission (@SECGov) <a href="https://twitter.com/SECGov/status/1714020932509982771?ref_src=twsrc%5Etfw">October 16, 2023</a>
  </blockquote> 
 </div>
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SEC Twitter account hacked: Bitcoin Spot ETFs NOT APPROVED for now!

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