From Fortune Magazine:

The Securities and Exchange Commission announced the approval for spot Bitcoin ETFs, but chairman Gary Gensler later revealed the SEC was hacked and had not approved the listing and trading of these products. Financial traders eagerly awaited this decision, which raised stocks and crypto curiosity.

This incident was embarrassing for an agency that already had concerns about market manipulation with the approval of these ETFs. The SEC had previously fought the approval citing potential market manipulation risks and cryptocurrency firm Grayscale had a landmark victory against the SEC, leading to reconsideration of the Bitcoin ETF applications.

Twitter users speculated whether the erroneous tweet was a mistake or a hack, as the official SEC Twitter account had liked posts from crypto degen accounts, indicated in another tweet and then subsequently deleted it. Others found the irony in the apparent market manipulation coming from the SEC itself, or at least its cybersecurity practices, which were lacking.



Read more: Hacked SEC Twitter account falsely posts agency approved Bitcoin ETFs