Bitcoin price swings after fake regulator post
Bitcoin briefly surged on Tuesday following a post on the US markets regulator’s X account (formerly Twitter), announcing the approval of new cryptocurrency exchange-traded funds (ETFs). However, the Securities and Exchange Commission (SEC) later deleted the post, attributing it to a “compromised” account.
The social media platform clarified that the compromise was not a result of a breach in its systems. US regulators are expected to provide an update on the new ETFs later this week.
The false announcement appeared on the SEC’s official X account around 16:00 Washington time (21:00 GMT), stating that the regulator had “granted approval for #Bitcoin ETFs for listing on all registered national securities exchanges.” Despite the swift circulation of the news on social media and business outlets, the SEC later confirmed that the post was inaccurate.