Bitcoin ETF

Bitcoin

The U.S. Securities and Exchange Commission (SEC) found itself in the middle of <a href="https://news.todayq.com/sec-to-face-probe-as-false-etf-approval-tweet-pumps-bitcoin/" rel="noopener noreferrer nofollow">controversy</a> and assistance offers following a compromised tweet from its social media account, falsely declaring the approval of Bitcoin <a href="https://news.todayq.com/bitcoin-traders-brace-for-secs-etf-decision-with-hedging-surge/" target="_blank" rel="noopener noreferrer nofollow">exchange-traded funds</a> (ETFs). This comes in when the entire crypto community is waiting for a green light from the commission. Veteran trader slams SEC chair 
Veteran trader Peter Brandt took to social media to criticize SEC Chair <a href="https://news.todayq.com/gary-genslers-shifting-views-on-bitcoin-etfs-and-the-two-sided-approach/" target="_blank" rel="noopener noreferrer nofollow">Gary Gensler</a>. He referred to a 2011 incident during Gensler’s tenure as Chairman of the Commodity Futures Trading Commission (CFTC). Brandt alleged that Gensler engaged in a back-room deal with Jon Corzine, allowing MF Global to transfer customer funds to Europe. Brandt accused Gensler of being an accomplice to potential customer fund misappropriation and urged him to resign from the SEC.
Stuart Alderoty, Ripple’s Legal Chief Officer, reminded the SEC of its regulatory obligations, stating that within four days, the agency should disclose the incident’s details and impact on the market. Ripple’s lawyer expressed anticipation for the SEC’s transparency in disclosing its assessment processes and preventive measures against such cybersecurity threats. Coinbase offered help 
Paul Grewal, Coinbase’s Chief Legal Officer, extended an offer of assistance to the SEC. Grewal emphasized Coinbase’s commitment to ensuring fair and efficient markets and proposed assistance with security protocols around social media. The gesture underscored Coinbase’s experience as a prominent cryptocurrency exchange.
The SEC confirmed that its X (formerly Twitter) account had been compromised, leading to a false tweet about Bitcoin ETF approval. The unauthorized post briefly boosted Bitcoin prices before quickly falling below $46,000 after the SEC clarified the misinformation.
According to reports, an SEC spokesperson disclosed that there had been unauthorized access to the regulator’s X account by an unknown party for a brief period. The SEC committed to collaborating with law enforcement and government partners to investigate the incident and determine appropriate actions.
The agency’s decision on Bitcoin ETFs, expected this week after years of opposition, has heightened tensions within the cryptocurrency industry. Over a dozen asset managers, including those filing updated registration statements, are vying for the creation of a Bitcoin ETF, making the SEC’s forthcoming decision a focal point of scrutiny.
As the SEC navigates the aftermath of the compromised tweet, criticism and assistance offers underscore the importance of transparency and robust cybersecurity measures in the evolving landscape of digital asset regulation.
However, the global crypto market cap is down by around 1.5% over the last 24 hours. It now stands at around $1.7 trillion. The total market volume is up by 3% to stand at $83 billion.
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Ripple lawyer criticises, Coinbase offered help to SEC after Bitcoin ETF tweet mishap

Todayq News

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