This is a developing story….Read more in this week’s Trends Journal
There was confusion in the crypto markets after the official Securities & Exchange Commission posted that spot bitcoin ETFs were approved “on all registered national securities exchanges.”
The announcement read: “Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges. The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection.”
The post was followed by a separate post from Gary Gensler, the head of the SEC, who posted, “The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”
The SEC also followed up with a tweet: “The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products”
The Trends Journal emailed the SEC for comment but the agency did not immediately respond.
Investors have long seen a weakening dollar, the possibility of spot ETF approval, and lower treasury yields as key drivers for bitcoin. Bitcoin jumped over $900 dollars on the news, but gave back $1,008.50 after Gensler’s follow up post.
Looks like the primer for buy the news sell the event.
somebody made some money on that fake post