Hacker Seized SEC Phone Number to Post Fake Bitcoin ETF Approval, X Says
The revelation raises questions about the investments regulator’s security protocols.
The revelation raises questions about the investments regulator’s security protocols.
Lawmakers and crypto boosters are asking questions about how the SEC’s X (formerly Twitter) account was compromised, leading to a bogus tweet on Tuesday.
BitGo was also recently named by Hashdex as the custodian in its application to become an issuer of a spot exchange-traded fund.
The immediate price reaction showed that bitcoin’s price might be capped if a real approval arrives, one analyst noted.
Bitcoin futures’ open interest on the Chicago Mercantile Exchange surged to an all-time high Tuesday as institutions piled into the asset, speculating on a spot bitcoin ETF approval.
The U.S. Securities and Exchange Commission has not yet approved any spot bitcoin ETF applications.
Luke Dashjr’s technical proposal sounded innocuous enough: to make the popular Bitcoin Core software “effective with newer datacarrying styles.” In reality, the effort represented a sophisticated but controversial plan to block the suddenly popular “inscriptions” known as “NFTs on Bitcoin.”
The volatile episode came at a time when the crypto industry anxiously awaits a spot bitcoin ETF approval, a landmark for the asset class’ maturation.
Analysts from Standard Chartered, Galaxy and Corestone predict that a spot bitcoin ETF could see over $1 billion in inflows over just the first quarter.
Valkyrie, Invesco and Bitwise lowered their fees further just hours after all rivals finally revealed their fee plans.