Bitcoin Price Prediction as Gary Gensler Says Official SEC Account is ‘Compromised’ – What’s Going On?
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 @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.
— Gary Gensler (@GaryGensler) January 9, 2024
“The SEC has not approved the listing and trading of spot bitcoin exchange-traded products”, Gensler was clear to emphasize.
Amid the confusion, the Bitcoin price was last changing hands around $46,000, down around 2% on the day.
The crypto market has been eagerly awaiting the SEC to approve multiple spot Bitcoin ETF applications as soon as Wednesday.
That’s why the Bitcoin price has been so sensitive to fake news being disseminated by the SEC’s “compromised” official account.
Crypto community members were quick to blast Gensler and the SEC’s incompetence for allowing itself to get hacked at such a sensitive time for the market.
“It’s wild that the SEC can scream and whine about the dangers of crypto etc… And at the same time, they can’t even keep their Twitter account secure”, lambasted @OhHaiAndy.
It's wild that the SEC can scream and whine about the dangers of crypto etc
And at the same time, they can't even keep their Twitter account secure.
"BE CAREFUL WITH CRYPTO SCAMS!!!"
"OOPS SORRY, WE ACCIDENTALLY MOVED THE MARKETS WITH A HACK"
— Your Friend Andy (@OhHaiAndy) January 9, 2024
Geoffrey Miller said the hack was a “total failure of SEC cybersecurity” that “imposes billions of pointless losses on
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