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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    PENGU token loses 20% in August amid Pudgy Party game launch

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    PENGU token loses 20% in August amid Pudgy Party game launch

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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  • Blockchain
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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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  • Guides
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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Bitcoin

NO! SEC denies approving spot Bitcoin ETF

January 9, 2024
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NO! SEC denies approving spot Bitcoin ETF
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Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

In what is turning out to be an early April Fool’s Day joke on everyone involved, it would seem that the U.S Securities and Exchange Commission has, in fact, NOT approved spot Bitcoin ETFs. Less than 30 mins ago, a tweet from the SEC’s official X (Formerly known as Twitter) claimed the following,

However, the tweet in question has since been deleted and refuted by Gary Gensler, Chair of the United States SEC himself. According to Gensler,

“The @SECGov Twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”

Needless to say, the reactions were quick to change. The community sentiment quickly changed from one of euphoria and elation to one of disappointment. And yet, despite a confirmation from the Chair himself, there are still people who are refusing to believe what happened.

For instance, in response to Gensler’s tweet, Bankless’s Ryan Sean Adams tweeted,

how do we know this account’s not compromised??

— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) January 9, 2024

Jokes aside, there may be other implications associated with this incident too with Securities lawyers telling FOX Business,

“… the @SECGov will have to investigate itself for market manipulation after moving the price of $BTC up and down following the hacked tweet that it had approved the first spot BTC ETF and then saying it was fake. That said, for the SEC not to approve tomorrow would be unprecedented.”

Additionally, conspiracy theories are doing the rounds too, with VanEck’s Gabor Gurbacs speculating that this could be an inside job. He speculated that a way “to stop or delay a Bitcoin ETF is to create an event like this.” A more rational explanation, as he himself conceded, is that the message was published sooner than it was supposed to. On the subject of this being an inside job, he went on to add,

“It would be unreasonable to delay… and this event should change nothing IMO. However, nothing surprises me anymore.”

At this point in time, it’s unclear who is responsible behind this prank. At the time of writing, no details had been shared by Gensler, the SEC, or any law enforcement agency.

See also  Largest Bitcoin Miner on Wall Street Faces 20% Price Cut despite High BTC Production

What is evident, however, is that someone exploited the sentiment of the crypto-community at large.

Tags: approvingBitcoinDeniesETFSECspot

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