A single fake Twitter post has sparked chaos in both the cryptocurrency space and broader financial markets, with the Securities and Exchange Commission and Twitter itself investigating what happened.
“The SEC determined that an unknown party had unauthorized access to and activity on the @SECGov x.com account during a brief period shortly after 4:00 PM ET,” the commission said. decryption Late Tuesday. “The unauthorized access has been terminated.”
“The SEC will work with law enforcement and partners across government to investigate the matter and determine appropriate next steps related to unauthorized access and related misconduct,” the statement continued.
Chairman Gary Gensler, who described the SEC’s Twitter account as “compromised,” rushed to set the record straight, saying “the SEC has not approved the listing and trading of Bitcoin spot exchange traded products.” The cryptocurrency and financial community had been eagerly anticipating the move, although most assumed a decision deadline late Wednesday.
The fake news triggered a sharp decline in the value of Bitcoin, and the incident reverberated throughout the day while the fake tweet was deleted. Some commentators have questioned whether the SEC, which dismisses cryptocurrencies as a market too easily manipulated, should conduct its own investigation.
Meanwhile, according to cryptocurrency Twitter influencer Walter Bloomberg, this also applies to Twitter.
Despite many posters on his platform, Twitter owner Elon Musk has said nothing about the controversy, instead focusing on immigration, election integrity and “X’s Exclusive Show” with hosts Don Lemon, Jim Rome and Tulsi Gabbard. Yes. .
This is a developing story and will be updated as more information becomes available.
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