Compromised SEC Twitter Account Issues False Declaration of Bitcoin ETF Approval

A statement posted late Tuesday on the official Securities and Exchange Commission (SEC) account announced the approval of bitcoin ETFs, featuring a quote from Chair Gary Gensler. However, it quickly became apparent that the post, despite originating from the SEC, was not legitimate. The SEC clarified that its account had been compromised, and the ETFs were not approved. Speculation ensued after the removal of the post, particularly as a decision on the ETFs was anticipated by Wednesday.

Before the deceptive post, the SEC was expected to make a decision on Ark 21Shares' proposed bitcoin ETF by January 10. Amid the confusion, Crypto X revealed an earlier SEC post cautioning users to trust only the SEC's official account. 

The SEC spokesman Gary Gensler tweeted "The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff." This incident bears some resemblance to an earlier situation this year when Cointelegraph incorrectly reported that the SEC had given the green light to ETFs, emphasizing the need for caution in interpreting such announcements.