Bitcoin News and Finance: What You Need to Know

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has advised investors to be cautious when considering crypto investments. His advice followed a series of warnings he issued the day before regarding the risks of crypto investing. The SEC is expected to green-light multiple spot bitcoin exchange-traded funds (ETFs) on Wednesday. Gary Gensler’s Advice to Crypto Investors The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, released another statement regarding crypto investing Tuesday, amid market expectations of imminent approval for spot bitcoin exchange-traded funds (ETFs). In a post on social media platform X, Gensler urged investors to be cautious if they are considering an investment involving crypto assets. He warned: “Crypto asset securities may be marketed as new investment opportunities but there are serious risks involved.” The SEC chairman posted a link to an article by Lori Schock, Director of the SEC’s Office of Investor ...

Bitcoin’s value experienced a turbulent Tuesday, largely due to a rogue post from the U.S. Securities and Exchange Commission’s hijacked X account, mistakenly proclaiming the green light for all spot bitcoin exchange-traded funds (ETFs). False Spot ETF Approval Post Causes Chaos in Bitcoin Markets This erroneous message from the official Twitter of the U.S. Securities and Exchange Commission (SEC) sparked a rapid increase in bitcoin’s price, soaring close to $48,000 per unit. Yet, this surge was short-lived as the price promptly dropped to around $45,000 once the market recognized the false nature of the announcement. This event stirred unease among investors and crypto enthusiasts, with some drawing parallels to a pump-and-dump strategy. Tennessee Senator Bill Hagerty demanded clarity from the SEC, pointing to possible market manipulation. Hagerty stated : Just like the SEC would demand accountability from a public company if they made such a colossal market-moving mistake, Con...

The U.S. Securities and Exchange Commission (SEC)’s X account announced the approval of spot bitcoin exchange-traded funds (ETFs) on Tuesday. However, minutes later, SEC Chairman Gary Gensler claimed that the agency’s social media account was compromised and the post was unauthorized. Some suspect an internal SEC error behind the premature bitcoin ETF announcement. SEC’s ‘Unauthorized’ Spot Bitcoin ETF Announcement Amidst soaring anticipation for potential spot bitcoin exchange-traded fund (ETF) approval, an official U.S. Securities and Exchange Commission (SEC) account on social media platform X announced on Tuesday that the regulator has approved spot bitcoin ETFs for trading on all registered national securities exchanges. As excitement surged across the crypto industry and social media went wild over the fake news, SEC Chairman Gary Gensler quickly took to X platform to clarify that the SEC account was compromised and an unauthorized post claiming spot bitcoin ETF approval was...