Bitcoin Forum

It just was approved....per CNBC
https://www.cnbc.com/2024/01/09/-sec-approves-bitcoin-etfs-for-trading.html


Update:
Now the SEC says this:
"SEC Twitter 'Compromised,' Chair Gensler Says After Account Said Bitcoin ETFs Approved"

https://www.coindesk.com/policy/2024/01/09/sec-twitter-compromised-chair-gensler-says-after-account-said-bitcoin-etfs-approved/

The end of a long battle. Finally, we can focus on more important things. The network.

Some one posted it few second earlier before yours.:

https://bitcointalk.org/index.php?topic=5481017.msg63470230#msg63470230

This is good and bad news.
The good is that we will see an inflow of Trillion dollars into the cryptocurrency market which will lead to the parabolic of the major crypto, especially Bitcoin.
The bad news is that the global investment companies that filed for the spot ETF will treat BTC as a fungible token, they will want to be the market's major player and they will go to extra lengths to do that which includes high restrictions and KYC for crypto and there's going to be a lot of market manipulation unless the SEC provide a law that prevents companies from do it

And the price dropped immediately.  Although it seems to be recovering.  Seems like a stupid move to sell when there are potentially a huge amount of new demand.  But then again many of these traders aren't the sharpest.

The details are super sparse.

The SEC says it is a hoax.

Perhaps, yes.  Eventually bitcoin will hit a price and stability where there is no need to get out of it and you can just remain in crypto.  Then the statist authoritarians will have to display their true colors even more than now.

Now the SEC says this:
"SEC Twitter 'Compromised,' Chair Gensler Says After Account Said Bitcoin ETFs Approved"

https://www.coindesk.com/policy/2024/01/09/sec-twitter-compromised-chair-gensler-says-after-account-said-bitcoin-etfs-approved/

https://www.talkimg.com/images/2024/01/09/sLvxJ.jpeg

No one knows if it's all true but here's a tweet

I remember a few months back there was the coin telegraph tweet which said the blackrock etf was approved. Then the sec said not to trust any tweet unless it comes from the sec. And here now we got the SEC posting fake approvals and causing many people to lose money if they longed at the time of the tweet.

Even though it was quickly corrected, many people probably bought in anticipation of a larger rally and ended up getting liquidated when it turned out more and more people discovered it wasn’t a real tweet.

Funny how the SEC — supposedly a major entity when it comes to investments, didn't use 2-factor authentication(2fa) on their Twitter/X account despite them knowing how much influence Tweets from their account will have. They're a freakin joke.

https://twitter.com/safety/status/1744924042681897343

This is embarrassing. An important institution like the SEC doesn't have a simple mechanism to protect their account and this has led to such a disgraceful event. For me, I think SEC Chair Gary Gensler is lying that the SEC account was compromised. I think a staff who had access to the account made this tweet without authorisation from the Chairman and other top SEC officials. X released a statement that the SEC account was compromised due to any breach of their system. This shows that the SEC is covering up their mess.

Another perspective is that it was an approved tweet but some powerful politicians like the President might not be comfortable with approval and they mounted pressure on the SEC to deny the tweet. I guess we now have a higher possibility of disapproval because of the current situation. Some US Legislatures especially Republicans have been angered by this drama and might probe this shameful event.

I still remember when Cointelegraph said that the Bitcoin ETF approved the price soaring high, but not long after that it was a technical error because the news was not true.

Now the SEC's own account announced it then jumped and after 10 minutes confirmed its account had been compromised, what's more drama than this, even though Gary Gensler said the statement was not true.

Obviously this will be bad news after the news is not true, it makes the price of Bitcoin fall again, although not significantly, still many people hope there is something positive but this is a different fact.

Note the word ‘yet’ in the headline.

I do know that the ETF approval will definitely help spike bitcoin’s price just like what was showed when it was falsely announced however it would not be the only factor to help increase bitcoin’s price in the next following months it is definitely a good addition but not our only hope

During its 15 years of existence and development, bitcoin did not need any support from government agencies and it is still growing strong to this day. So, spot etfs are definitely not a huge factor for bitcoin, but if approved, it will also contribute to faster bitcoin growth. But what I see is that people are putting too much expectation on it, which will not be good for the crypto industry because if etfs continue to be rejected. It will certainly cause short-term panic in the market. I think people should prepare and focus more on the halving instead of focusing too much on etfs like now because the halving is the biggest catalyst for bitcoin to make a new ATH.

Human are desperate when it comes to getting what they want. The hack of Gary Gensley x account must be from one of those institutions that wants to trade bitcoin because they have already stashed up their bags believing that today SEC will approve bitcoin ETF. This was why they had to do the hack to give false news to the public, so that within that period, the price of bitcoin will soar. Unfortunately for the hackers, not quite long that the rumor was in the air, was when Gary Gensley cleared the air that his x account was hacked. This means that no one is safe from these hackers if they mean to hack into any of your account, this is why we should be careful with our security when using the internet. I don't care about the approval of bitcoin ETF because it will be an attack on financial freedom.

https://talkimg.com/images/2024/01/10/s4f7I.jpeg

https://talkimg.com/images/2024/01/10/s4YIg.jpeg

How many people lost money because of this fake tweet? People should sue the SEC imo. When you are an important government agency, you simply can’t afford to get hacked. I am not buying this bullshit. The SEC manipulated the markets right in front of everyone and these are the guys that was supposed to protect us from the manipulators. Also this is just the beginning. Imagine what will they do when they approve the ETF and have unlimited power over the btc price. They will build a casino where the only winners are Blackrock

The question arises in everyone's mind. So far there have been many messages about Bitcoin ETF, but there was no reason for the X account to be hacked. But yesterday when the Bitcoin ETF was approved, within 1 to 10 minutes it was revealed that the Twitter account had been hacked. In fact, Bitcoin ETF is a completely dramatic phenomenon. People will not believe this event anymore. I believe Bitcoin will move at its own pace.

I was not expecting the SEC would be so careless. When they know everyone is awaiting approval they get their X.co handle hacked. A lot of money has been lost today due to the fake tweet. Bitcoin was going to break the barrier of 48k when the correct news was released. Not sure but now there is another news that is spreading that an ETF approval is imminent by the 15th of this month. Since the news is circulating in social media it can be rumour.

Lol, I was expecting a similar drama, that Gensler is stubborn as F*ck, I knew he won't just announce the approve of the ETFs without creating a scene first.

Like how does it sound that the SEC twitter account got hacked? People that should know about security the most became the victim? I knew its a a cooked up story, they are trying to blame something else, I believe these bastards have a plan after all.

Even I always use 2FA on my twitter account, why would the SEC not use such security feature to secure its account? I hope Elon Musk brings some light on this Twitter hack excuse, I believe it's either a big plan or the SEC just lied about it.

This looks more like a professional troll trying to troll another troll. I like it.😂

I totally agree with you. ETF is a rubbish, bitcoin do not need this fund to be aproved to have its price incresing in a long run. The price will increse naturally, this ETF only will deliver more power to the government of USA.

This is just a manipulation from the SEC, they wanted to sell at a high price and buy back at a low price before the spot Bitcoin ETF gets approval.

From their statement this morning that it is not a security breach but they lose control over their phone number, and also the account did not have 2fa security, I am beginning not to trust them anymore.

This can be manipulation so that they can accumulate more BTC if people react to the news.

This might also be the outcome of the SEC since it is an insider who tweeted the news, but maybe it is not the right time to post it.

I am advising us to be very careful with the way we invest especially traders because there is so much corruption going on in the crypto industry especially governments that are trying to get involved in bitcoin transactions.

It happen that they release this statement https://www.cnbc.com/2024/01/09/sec-says-it-did-not-yet-approve-bitcoin-etf.html so maybe they are just playing with people speculating about ETF approval. But I guess with current officials they have I guess we can't hope for them to approve it anytime soon since they always come up with many excuse once the deadline for ETF approval came.

I guess we should settle out about this case and move on from ETF discussion since nothing will happen there since maybe there are not totally convince that bitcoin is really a good asset to trade. Maybe some manipulators just want another round of downfall so they can buy and wait for halving season to happen. Now many believe that this is just manipulation so I guess a lot of people now would agree with this due to recent events happen to them.

Obviously there are many losses for the fake tweets made by the SEC, but a government agency class does not secure accounts properly and they don't even apply 2FA, this is really ridiculous.

This is right in front of us all, especially before the decision whether it is approved / not, what comes out instead of news like this means that it will all consider it clear that this is being manipulated by their side for the benefit they get.

We hope that there will be approval because of the desire for prices to rise, but it is likely that behind all of this there is a plan that is being built. ::)

I agree with you that is a manipulation since last year the SEC didn't lose control of their phone number, it is now that we are expecting the spot Bitcoin ETF to be approved that is when they have to lose access to their phone number. It is more clear that the "tweet" was made by the SEC since it was an insider who tweeted it because the person would not made such a tweet without the permission of the SEC. we should keep on accumulating Bitcoin with the DCA strategy till this situation is cleared.

Whoever is the user of that SEC Twitter account must be the one who's accountable for not using 2FA. :D
Or Gary Gensler himself is the one using that Twitter account.

Nevertheless, it killed my excitement towards an acceptance of a Spot Bitcoin ETF. Like TBH, it's like they pranked us. Like literally they posted that tweet, then after a few minutes, they'll just say that it got hacked? WTF!! Well, I'm not that excited when it comes to a Spot Bitcoin ETF getting accepted, but still, there's some bit of excitement in me because an acceptance of a Bitcoin ETF means a price increase for the price of Bitcoin. I just can't imagine how they aren't able to add 2FA to their account. They have millions of followers and they didn't even think of the possible consequences of this? Or do they plan to do it from the start just to kill our excitement?

Well, I'm not affected at all by this "PRANK" that they pulled out. Price of Bitcoin is going down already, and it's a good time to at least accumulate some in preparation for the bull run. :)

excitements gone. not surprising anymore. if there is another 2nd troll for this approval like approving it and then rebutted after, just picture gensler smiling.

they have done this before like the dtcc listing they also killed the excitement. SEC is trolling, they know its gonna come but at least making money out of manipulation comes first before that real approval. there's got to be many futures traders who lost their money after executing a long position.

Oh wow, that was quite a hack. I understand why someone would do that, but it proves, once again, how bad security is on Twitter, and that even official Twitter accounts can't be fully trusted because you don't know if the message was actually written by the owner. Still, even a scandal like this puts additional pressure in the SEC, making people once again focus on the matter of ETFs. It's also a good way for the SEC to test the reaction of people in case they approve an ETF. So, who knows, maybe it was intentional, just to test it out and then see how people also react to the refutation.

I don't think so. And would you also say that most people who got hacked are careless? The truth is that some hackers are only too skilled. Even the government's systems got hacked too, so how much more a social media account when hacking of accounts there aren't even a new thing. For those money who are lost due to FOMO, well it was already their fault. I guess they will now invest the proper way?

Another thing is that, they will now take things slowly and won't just believe easily on what they see. After the fake news incident, I'm sure people will now be quiet and will just wait on the 15th to see if there is truly an approval that happened or not.

It wasn't a hack, unless every time someone guesses your password you call it this way.

The SEC has made a fool of itself. The organization that is supposed to protect investors, that tells you what is safe and is not, that says it fights market manipulation has successfully compromised itself by leaking out its phone number that was used to register the account and not using 2FA.

How are they supposed to stop market manipulation if its own twitter account (yes I prefer the old name) causes one?