SEC’s X Account Announces False Bitcoin ETF Approval Through Hacking — Bitcoin Returns After Rapid Rise | CoinDesk JAPAN

The US Securities and Exchange Commission (SEC) has confirmed that it has not yet approved the application for a Bitcoin ETF (Exchange Traded Fund). The X (formerly Twitter) account briefly announced the approval, but this appears to have been false.

“The SEC’s X (Twitter) account @SECGov was compromised,” a spokesperson told CoinDesk. “The fraudulent tweets regarding Bitcoin ETFs were not made by the SEC or its staff.”

SEC Chairman Gary Gensler said on his X account that the ETF is not authorized, saying, “The SEC has not approved the listing and trading of physical Bitcoin ETPs.” said.

The SEC is widely expected to approve the Bitcoin spot ETF application on the 10th. An SEC spokesperson told CoinDesk last week that the approval of the Bitcoin ETF will be posted on the SEC’s EDGAR database. In other words, X is not a means of communicating decisions.

“All of the Commission’s 19b-4 orders are posted on our website and then published in the Federal Register,” the spokesperson explained.

The compromised @SECgov will be subject to ongoing monitoring and compliance measures to ensure this.”

It included an image purporting to be a quote from Chairman Gensler. The account also posted a second tweet that simply read “$BTC,” but the post was quickly deleted.

Bitcoin (BTC) soared to nearly $48,000 (approximately 6.96 million yen, equivalent to 145 yen to the dollar) immediately after X’s post, but then plummeted by nearly 6% when the news turned out to be false.4 The total amount was $5,100.

Data from CoinGlass shows that more than $50 million in leveraged derivatives positions were liquidated per hour during this volatile period.

｜Translation and editing: Rinan Hayashi
｜Image: Nikhilesh De/CoinDesk
｜Original text: SEC Has Not Approved Bitcoin ETFs, but Its Hacked X Account Briefly Said Otherwise