SEC Chairman Gary Gensler Manipulates Market on the Eve of Bitcoin Spot ETF Approval, SEC Hacked with False News
While the market eagerly awaits the approval of a Bitcoin spot ETF by the SEC, the U.S. Securities and Exchange Commission and its chairman Gary Gensler have performed a two-day show on how to manipulate the Bitcoin market! The SEC’s Twitter account was hacked, causing Bitcoin to briefly surge to nearly $48,000 before quickly dropping again.
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ETF on the verge of approval, market in FOMO, Gensler issues reminders
SEC official account hacked, false approval news released
Approval of Bitcoin spot ETF imminent?
Time: 1/8 23:40
Gary Gensler tweeted, “If you are considering investing in cryptocurrencies, please keep the following points in mind…” and listed several reminders about the risks associated with cryptocurrency investments.
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Community interpretation: ETF about to be approved, community in FOMO, prompting Gary Gensler’s reminders
Market reaction: BTC rose from around $44,700 to $47,200
Time: 1/10 05:26
(Due to the SEC official Twitter account being hacked, false news about the approval of the ETF was released)
Gary Gensler tweeted, “The SEC Twitter account was hacked and unauthorized tweets were published. The SEC has not approved the listing and trading of Bitcoin spot ETF.”
Community interpretation: Heard that the ETF was approved, causing a surge, then quickly dropped due to Gensler’s denial
Market reaction: BTC rose from around $46,600 to $47,972, then quickly dropped to $44,748 after Gensler’s denial
Meanwhile, Bloomberg ETF analyst Eric Balchunas believes that someone prepared a well-planned tweet and entered the wrong date, as this tweet would have made sense if it was released at this time tomorrow. In my opinion, this language sounds like legitimate SEC style rather than a prank by a crypto fool, but I guess we will see.
Balchunas even initiated a poll asking whether people think the tweet came from within or outside the SEC, tagging Musk: “Only @elonmusk knows the truth!”
However, there are also community members mocking the SEC and Chairman Gary Gensler, saying, “When you can’t even protect your own Twitter account, how can you protect investors?”
BTC
SEC
Market manipulation
Bitcoin spot ETF
Hacked
Further reading:
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