SEC Blames Hack for Incorrect Post About Bitcoin ETF Approval

The Securities and Trade Fee’s official X account was hacked when the company posted late Tuesday that it had permitted exchange-traded funds holding bitcoin, forcing Chair Gary Gensler and the regulator to disavow the misguided publish.

Bitcoin briefly jumped to close $48,000 earlier than Gensler mentioned on the social-media community that the message was “unauthorized” and that the SEC “has not permitted the itemizing and buying and selling of spot bitcoin exchange-traded merchandise.” The company later posted that its account was “compromised.”