TLDR Summary:
The Securities and Exchange Commission (SEC) Chair, Gary Gensler, announced on Twitter that the SEC’s official account had been compromised. The unauthorized tweet claimed that the SEC had approved spot bitcoin exchange-traded products (ETFs), causing the price of bitcoin to spike. However, Gensler clarified that the SEC had not approved the listing or trading of bitcoin ETFs. The tweet has since been removed, and the SEC confirmed that it was not made by the agency or its staff.
Important Key points:
1. Securities and Exchange Commission Chair Gary Gensler announced that the SEC’s official Twitter account had been compromised, leading to an unauthorized tweet being posted.
2. The unauthorized tweet claimed that the SEC had approved spot bitcoin exchange-traded products, but Gensler clarified that the SEC had not approved the listing or trading of bitcoin ETFs.
3. The price of bitcoin experienced a sharp spike following the tweet, reaching as high as $47,870 before settling around $46,100.