Industry expert Cathie Wood commented on a false post on X from Securities and Exchange Commission (SEC) Chairman Gary Gensler that upended Bitcoin prices and caused confusion for investors.
The CEO of Ark Invest, during an interview on “The Claman Countdown” on Wednesday, shared an incident where he discovered a tweet from the SEC with the Bitcoin logo and Gary Gensler’s picture, which initially struck him as odd. He explained, “I was actually giving an interview, pulled up the tweet, and the first thing I saw was the Bitcoin logo in an SEC tweet. And I said, that’s weird.”
Further, he mentioned that he was with Ophelia, a partner on 21Shares, who received communication from the CBOE indicating that something might be about to unfold. However, it later turned out to be a hoax or a hack. The incident underscores the challenges and concerns surrounding cybersecurity and misinformation in the financial industry.
The SEC’s announcement, posted on the SEC X account, indicating approval for Bitcoin exchange-traded funds (ETFs) to be listed on all registered U.S. securities exchanges, was made shortly after 4 p.m. ET on Tuesday when the markets were closed. However, the post was subsequently deactivated and replaced with a more detailed clarification. Industry expert Cathie
According to the updated post, “@SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.” This incident highlights the vulnerability of official accounts to cyber threats and underscores the need for vigilance in the digital communication channels of financial regulatory bodies.