<p>The post <a href="https://coinpedia.org/news/ripple-executives-demand-transparency-amid-secs-etf-approval-confusion/">SEC is A Menace, Claims Ripple CLO Amid Spot Bitcoin ETF Confusion</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto world was on fire. News of the SEC approving a <a href="https://coinpedia.org/news/new-bitcoin-etfs-set-to-begin-trading-this-thursday-morning/">Spot Bitcoin ETF</a> sent shockwaves through the market, igniting a surge of excitement. But before celebrations could begin, <a href="https://coinpedia.org/news/sec-account-breach-reveals-absence-of-two-factor-authentication-x-confirms/">SEC Chair Gary Gensler</a> stated that their account might have been compromised. The excitement vanished, replaced by a chilling suspicion – market manipulation?</p> 
<p>Discover the truth here. </p> 
<h2 class="wp-block-heading" id="h-ripple-s-demand-for-answers">Ripple’s Demand for Answers</h2> 
<p>The day started with the SEC’s tweet announcing the approval of the Spot Bitcoin ETF. The tweet, posted from the ‘SEC’s X handle’, had a significant impact, not just on the XRP community but across the wider crypto market.</p> 
<p>In response to the confusion, Ripple’s leadership, including Chief Legal Officer Stuart Alderoty and XRP lawyer Bill Morgan, voiced concerns on the X platform. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">The most harm the SEC has done to crypto investors since …well, since it started the Ripple lawsuit and wiped off billions from the XRP price causing huge liquidations. What a menace is the SEC to consumers in crypto markets. <a href="https://t.co/V8Luy2EQPE">https://t.co/V8Luy2EQPE</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1744851322070036923?ref_src=twsrc%5Etfw">January 9, 2024</a>
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<p>Alderoty stressed the need for accountability and urged the regulator to disclose details about the incident <a href="https://x.com/s_alderoty/status/1744871138818179513?s=20">within four days</a> as per the SEC’s own rules.</p> 
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   <p lang="en" dir="ltr">Per *its own rules*, w/in 4 days the SEC should disclose the incident's nature and scope, and the impact on the market along with a description of its processes for assessing, identifying, and preventing such cybersecurity threats. <a href="https://t.co/CUs3aAunRs">https://t.co/CUs3aAunRs</a> <a href="https://t.co/nRWAfnirb5">https://t.co/nRWAfnirb5</a></p>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1744871138818179513?ref_src=twsrc%5Etfw">January 9, 2024</a>
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<p>Also Read: <a href="https://coinpedia.org/news/will-sec-delay-spot-bitcoin-etf-approval-due-to-hack-possible-reasons-explained/">Could the SEC Twitter Breach Further Delay Spot Bitcoin ETFs?</a></p> 
<h2 class="wp-block-heading" id="h-the-market-reacts">The Market Reacts</h2> 
<p>After the initial announcement, many speculated about possible market manipulation. Eric Balchunas, a Bloomberg ETF analyst, even mentioned the idea of a “scheduled tweet gone bad.” Such events have raised questions about the consistency and reliability of regulatory updates in the crypto sector.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">While there's been some bits of evidence that point to hack, I'm sticking w my initial theory (for now) that it came from inside SEC, a scheduled tweet gone bad.. <a href="https://t.co/sbGrVWE7xW">https://t.co/sbGrVWE7xW</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1744866043049173009?ref_src=twsrc%5Etfw">January 9, 2024</a>
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<p>The confusion surrounding the SEC’s tweet underscores the need for clear and consistent communication from regulatory bodies. As the crypto community seeks clarity, the SEC faces scrutiny and questions about its credibility. Balchunas and others suggest that the SEC may be trying to address a misstep with the tweet.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/fake-tweet-on-bitcoin-etf-approval-causes-chaos-in-crypto-market-900-million-liquidations-in-24-hours/">Fake Tweet on Bitcoin ETF Approval Causes Chaos in Crypto Market: 900 Million Liquidations in 24 Hours</a></p>

SEC is A Menace, Claims Ripple CLO Amid Spot Bitcoin ETF Confusion

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