Market-Moving SEC Twitter Hack On Bitcoin ETFs 'Unacceptable': Senate Banking Committee Member
Portfolio Pulse from Murtuza Merchant
The SEC's Twitter account was hacked, falsely signaling approval of Bitcoin ETFs, which led to a significant impact on Bitcoin's price. The SEC corrected the misinformation, causing a price drop. Legal experts suggest an internal investigation for potential market manipulation. Senator Bill Hagerty called the incident 'unacceptable' and demanded accountability. The SEC's new cybersecurity rules may also be scrutinized. Analysts and industry experts provided mixed reactions, with some expecting a Bitcoin ETF approval and others remaining skeptical.
January 09, 2024 | 11:01 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The false tweet from the SEC's hacked Twitter account about Bitcoin ETF approval caused a temporary surge in Bitcoin's price, followed by a drop after the correction of the misinformation.
The direct mention of Bitcoin and the significant price movement following the false tweet and subsequent correction indicate a high relevance and importance. The score reflects the negative impact on Bitcoin's price in the short term due to the correction of misinformation.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100