Bitcoin Financial News

Investing.com — U.S. futures stagnated Wednesday, trading in tight ranges as investors adopted a “wait-and-see” approach ahead of the release of the key monthly inflation data later in the week.

Investing.com — Social media platform X said on Wednesday that the Securities and Exchange Commission’s account was compromised when it made a fake post about the regulator approving a spot Bitcoin exchange-traded fund. 

In a market marked by heightened sensitivity to regulatory actions, Bitcoin’s price experienced a notable dip to $46,000, reflecting nearly 1.50% decrease on Wednesday. This latest fluctuation in the world’s premier cryptocurrency comes amid news of a security oversight at the U.S. Securities and Exchange Commission (SEC).

Polygon’s (MATIC) network is abuzz over an expected partnership with a significant player in the banking industry. Ordi has declined despite being on a sharp rally since November 2023.

The ProShares Bitcoin Strategy ETF (BITO), an exchange-traded fund focused on  Bitcoin (BTC)  futures, has amassed over $2 billion in assets, reaching an all-time high. 

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

The spot Bitcoin exchange-traded fund (ETF) competition is heating up as major issuers including Fidelity submitted revisions to lower their fees.

The Securities and Exchange Commission (SEC) has found itself in hot water after  an unauthorized tweet on its official account  suggested that spot Bitcoin exchange-traded funds (ETFs) had been approved. 

The posting, which has since been deleted, pre-empted an imminent announcement from the SEC about whether it will approve the trading of spot bitcoin ETFs. The fake post featured a photo of SEC chair Gary Gensler and a convincing quote: "Today's approval enhances market transparency and provides investos with efficient access to digital asset invesments within a regulated framework."Within fifteen minutes of the post going live on X, Gensler hastily took to the platform to deny that any such approval had been given.

While 13 Bitcoin spot ETFs await approval from the US SEC, the Chief Operating Officer of HashKey Group, Livio Weng, has revealed that about ten fund companies are currently preparing to launch Virtual Asset Spot Exchange-Traded Funds in Hong Kong.

Bitcoin dropped to around $45,000 before paring losses after a false post on the US Securities and Exchange Commission’s X account claimed that the agency had approved the issuance of ETFs holding the digital asset. 

cryptocurrency Bitcoin (BTC) declined 2% to $45,945 on Wednesday after the US Securities and Exchange Commission (SEC) said that a post on X claiming a spot Bitcoin exchange-traded funds was approved was not authorised by the agency. «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 U.S. Securities and Exchange Commission said on X. At 10:43 a.m., bluechip crypto tokens BTC was trading 1.8% lower at $45,945, while Ethereum was up 2.8% at $2,377. Whereas altcoins, such as Avalanche, Solana, and Cardano, fell 3-8%. Bitcoin surged beyond the $47,000 threshold on Monday, reaching its highest point since March 2022. However, it couldn't maintain that position, experiencing spikes and dips in the past 24 hours following the approval of fake SEC spot Bitcoin ETFs, said Edul Patel, CEO of Mudrex.

The official X account of the U.S. Securities and Exchange Commission (SEC) was compromised when it posted the fake spot Bitcoin ETF approval announcement, X has confirmed.

As the cryptocurrency world eagerly awaits the U.S. Securities and Exchange Commission’s (SEC) decision on Bitcoin ETFs, the market is abuzz with speculation and activity. Bitcoin price has consistently held strong above the $47,000 mark, drawing strength from the growing optimism surrounding the approval of Bitcoin ETFs.

By Ankur Banerjee

By Tom Westbrook

The U.S. Securities and Exchange Commission said Tuesday that a post sent from the agency’s account on the social platform X announcing the approval of a long-awaited bitcoin exchange-traded fund was “unauthorized,” and that the agency’s account was hacked.

The Financial Industry Regulatory Authority Inc. on Tuesday issued its annual roundup of concerns related to the retail wealth management industry, and in an update, the securities industry self-regulator said it was adding developments in “crypto assets” to its laundry list of major concerns for the brokerage industry.

The Bitcoin price just saw a sudden pump to new yearly highs near $48,000 after the US SEC’s official X account tweeted that spot Bitcoin ETFs had gained approval, for the BTC only to then drop as much as $3,000 to briefly below $45,000 after SEC Chairman Gary Gensler said that the official account is “compromised”.

The recent surge in Bitcoin (BTC) prices has prompted a revision of projections for 2024.

The SEC has not approved Bitcoin ETFs, as reported earlier on the SEC's official X account. SEC Chairman Gary Gensler said the account was «compromised.»