{"id":4181,"date":"2024-01-09T22:42:19","date_gmt":"2024-01-09T22:42:19","guid":{"rendered":"https:\/\/economicherald.net\/?p=4181"},"modified":"2024-01-09T22:42:19","modified_gmt":"2024-01-09T22:42:19","slug":"yessss-sec-approves-bitcoin-etf-no-wait-it-didnt-jesus-christ-gary-you-had-one-job","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4181","title":{"rendered":"Yessss, SEC approves Bitcoin ETF\u2026 no, wait it didn\u2019t\u2026 \u2018Jesus Christ, Gary \u2013 you had one job\u2019"},"content":{"rendered":"

Bitcoin and crypto holders are currently flummoxed\/sceptical after an apparent official tweet from the SEC appeared to confirm the approval of spot Bitcoin ETFs in the US, only to be told it was fake news.<\/p>\n

Our headline says it all, really. Jeez\u2026 only in crypto?<\/p>\n

Here was the tweet, now deleted by the US Securities and Exchange Commission (via crypto commentator\/YouTuber Lark Davis)\u2026<\/p>\n

pic.twitter.com\/JyTzqx2VEJ<\/a><\/p>\n

\u2014 Beav53 (@Beav53) January 9, 2024<\/a><\/p>\n\n

And here is SEC chair Gary \u201cFun Police Commissioner\u201d Gensler\u2019s last response on the matter\u2026<\/p>\n

The @SECGov<\/a> 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.<\/p>\n

\u2014 Gary Gensler (@GaryGensler) January 9, 2024<\/a><\/p>\n\n

Yeeeeahhh\u2026 the crypto community and others meanwhile aren\u2019t convinced\u2026<\/p>\n

It would great if the @SECGov<\/a> would stop manipulating the Bitcoin market.<\/p>\n

\u2014 Cameron Winklevoss (@cameron) January 9, 2024<\/a><\/p>\n\n

SEC was able to recover their “compromised’ account in 15 minutes. Impressive. pic.twitter.com\/YNI6u56g4w<\/a><\/p>\n

\u2014 Bob Loukas (@BobLoukas) January 9, 2024<\/a><\/p>\n\n

And how\u2019s this one from famed US whistleblower and naturalised Russian citizen Edward Snowden\u2026<\/p>\n

you had one job<\/p>\n

\u2014 Edward Snowden (@Snowden) January 9, 2024<\/a><\/p>\n\n

Unfortunately the news was quickly spread far and wide this morning by various news mainstream and crypto-specific outlets, including Reuters, Cointelegraph and Blockworks, with Reuters releasing its report before Gensler\u2019s statement.<\/p>\n

Meanwhile the cryptoverse seems amazed\/sceptical that the SEC was able to gain control of its supposed compromised X account so quickly \u2013 with another SEC tweet and Gensler\u2019s tweet coming within about 15 minutes after.<\/p>\n

The US regulator has yet to provide any details about how exactly its social account was compromised.<\/p>\n

Spot Bitcoin ETFs in the US have been widely expected to receive reluctant approval from the SEC this week, with the final deadline for a decision set for January 10 in the US.<\/p>\n

Currently, the price of Bitcoin seems more volatile than an arvo of shirtless boozing and pill popping at Summernats.<\/p>\n

This morning, BTC spiked as high as US$47,700 on the fake news, before tanking to about US$45,400 \u2013 roughly from where it\u2019s looking to stage a recovery as we type.<\/p>\n

Ah well, at least it allows investment titans to quickly grab a few more BTC at slashed prices, eh?<\/p>\n

JUST IN: Over $300 million has been liquidated from the #Bitcoin<\/a> market amid the SEC’s official X account being hacked, and falsely claiming the Bitcoin Spot ETF had been approved. pic.twitter.com\/s2WKO1CRXq<\/a><\/p>\n

\u2014 WhaleWire (@WhaleWire) January 9, 2024<\/a><\/p>\n\n

Read more about the impending (possible) spot Bitcoin ETFs, including BlackRock\u2019s involvement, here<\/a>.<\/p>\n

Meanwhile, a couple of takes from Bloomberg\u2019s ETF analyst Eric Balchunas:<\/p>\n

Damn, it’s totally taken over our homepage. It’s a national emergency! pic.twitter.com\/AYC6PoKOR7<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) January 9, 2024<\/a><\/p>\n\n

On TV right on talking about this.. and yes, I think someone prepped a planned tweet and put wrong date, bc the tweet would have made PERFECT sense tomorrow at this time. The language sounds legit SEC-ish IMO vs a crypto knucklehead pulling a prank but I guess we’ll see.. https:\/\/t.co\/lP6Nghi6fq<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) January 9, 2024<\/a><\/p>\n\n

<\/span><\/p>\n

The post Yessss, SEC approves Bitcoin ETF\u2026 no, wait it didn\u2019t\u2026 \u2018Jesus Christ, Gary \u2013 you had one job\u2019<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin and crypto holders are currently flummoxed\/sceptical after an apparent official tweet from the SEC appeared to confirm the approval of spot Bitcoin ETFs in [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4182,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nYessss, SEC approves Bitcoin ETF\u2026 no, wait it didn\u2019t\u2026 \u2018Jesus Christ, Gary \u2013 you had one job\u2019 - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=4181\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yessss, SEC approves Bitcoin ETF\u2026 no, wait it didn\u2019t\u2026 \u2018Jesus Christ, Gary \u2013 you had one job\u2019 - 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