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  • Writer's pictureKENDRICK CLEVOR

SEC Working With FBI To Determine Source Of Fake Bitcoin ETF Approval Tweet From Its Official X Account

According to a report from Cointelegraph, the United States Securities and Exchange Commission released a statement announcing that it is working hand-in-hand with the Federal Bureau of Investigation (FBI) to investigate a tweet that was sent from its official X (formerly Twitter) account on January 9th.

On January 10th, the SEC released a statement reiterating that the tweet which had been circulated on January 9th, claiming that the commission had given its approval for spot Bitcoin exchange-traded funds in the United States, was "unauthorized" and had not been "drafted or created" by SEC officials. Following this, SEC Chair Gary Gensler published a post on X, claiming that the official SEC account had been "compromised" by an unnamed party. As a result, the SEC is now working with the FBI to investigate the matter.

The SEC has planned to launch a thorough investigation into the tweet in collaboration with the FBI and the commission's Office of the Inspector General. The commission has also issued a warning to the public regarding any filing approving a rule change that would allow the listing and trading of a spot Bitcoin ETF, stating that it would be posted on its website. The commission later published the necessary information on its website.

As of January 10th, spot Bitcoin ETF offerings from ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex and Franklin Templeton were able to be listed on U.S. exchanges. After approval, Gensler released a statement saying the commission “did not approve or endorse” Bitcoin, just the exchange-traded products. 

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