From Wall Street Journal:

The Securities and Exchange Commission revealed that its official X account was “compromised” when it erroneously announced approval of exchange-traded funds holding bitcoin. This forced Chair Gary Gensler and the SEC to disavow the mistaken post. Bitcoin briefly surged to near $48,000 before Gensler clarified that the message was “unauthorized” and that the SEC “has not approved the listing and trading of spot bitcoin exchange-traded products.” The SEC later issued a similar message. This incident comes as bitcoin has more than doubled in value since last January, driven in part by expectations of approval for digital currencies.

In a surprising turn of events, the Securities and Exchange Commission announced that its official X account had been “compromised,” leading to the mistaken approval of exchange-traded funds holding bitcoin. This prompted Chair Gary Gensler and the SEC to retract the announcement, stressing that they had not approved the listing and trading of spot bitcoin exchange-traded products. Bitcoin briefly soared to nearly $48,000 before Gensler clarified the unauthorized nature of the message. The incident comes at a time when bitcoin has more than doubled in value since January, driven in part by the anticipation of approval for digital currencies.



Read more: SEC Says X Account Was ‘Compromised’ on False Bitcoin ETF Post