Finance

SEC, FBI Investigating Fake Bitcoin Post on X

The U.S. Securities and Exchange Commission (SEC) Wednesday stated it’s coordinating with regulation enforcement entities together with the Federal Bureau of Investigation on an investigation right into a faux submit on its X social media account on Tuesday.

“The SEC continues to investigate the matter and is coordinating with appropriate law enforcement entities, including the SEC’s Office of the Inspector General and the FBI,” an company spokesperson stated in an announcement.

On Tuesday, the SEC introduced on X that its account was “compromised” within the late night after a submit was made that includes an image of the company’s Chair Gary Gensler alongside an accompanying tagline endorsing the approval of exchange-traded funds (ETFs) holding bitcoin.

The since-deleted tweet, despatched at 3:11 p.m. acknowledged, “Today the SEC grants approval for #Bitcoin $ ETFs for listing on all registered national securities exchanges. The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection.”

The submit was on-line for roughly half-hour, in line with The Hill. Subsequently, the value of Bitcoin briefly surged to almost $48,000 earlier than falling beneath its value earlier within the day to lower than $46,000.

Later, Gensler posted to X that “The SEC 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.”


© 2024 Thomson/Reuters. All rights reserved.

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