• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Breaking News: BREAKING: President Trump Signs ‘GENIUS Act' Making Crypto History
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: President Trump Signs ‘GENIUS Act' Making Crypto History
SEC hack Bitcoin ETF

Fake Spot Bitcoin ETF Approval: US Senators Demand Answers From SEC

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Yesterday’s security breach at the United States Securities and Exchange Commission (SEC), which led to the dissemination of false information about the approval of spot Bitcoin ETFs, has prompted a rigorous inquiry by US Senators J.D. Vance and Thom Tillis. In a detailed letter to SEC Chairman Gary Gensler, the senators have outlined specific demands and deadlines for the SEC to provide clarity and explanations regarding this significant incident.

Fake Spot Bitcoin ETF Post: What Happened?

The senators’ letter, dated January 9, 2024, begins with a direct address of concern about the SEC’s communication practices: “We write to express concern and request clarity regarding the Securities and Exchange Commission’s social media communications about its approval of Bitcoin exchange-traded funds.”

They elaborate on the consequences of the false announcement, emphasizing the resultant market volatility and the confusion among investors. The senators underscore the critical nature of the SEC’s role and its responsibilities, stating: “These developments raise serious concerns regarding the Commission’s internal cybersecurity procedures and are antithetical to the Commission’s trip mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”

Related Reading: SEC Bitcoin Hack: X Confirms Account Did Not Have 2FA Enabled

The letter sets forth specific questions and demands a comprehensive briefing, including a detailed explanation of the nature of the errant announcement, including whether it was made by an SEC employee or an external entity as well as a clarification on whether the SEC has made an official decision regarding the approval of Bitcoin ETFs.

Moreover, the US Senators seek information on how the incident might affect the SEC’s timeline for a final decision on Bitcoin ETFs, an outline of the SEC’s plan to investigate the error and strategies for rectifying any financial losses incurred by investors due to the misleading announcement.

Furthermore, the senators have imposed a stringent deadline for the SEC to respond to these queries, stating: “To better understand the nature of the breach and surrounding details, please provide a briefing to my staff as soon as possible, but no later than January 23, 2024.

More US Senators Will Seek Answers

Ron Hammond, director of government relations at the Blockchain Association, has speculated that more US senators are likely to call for an explanation.

First congressional letter on the SEC hack is out and expect several more tomorrow https://t.co/z96uI8f1lK

— Ron Hammond (@RonwHammond) January 10, 2024

Senators Cynthia Lummis and Bill Hagerty also commented on the situation. Senator Lummis emphasized the severity of the issue on X: “Fraudulent announcements, like the one that was made on the SEC’s social media, can manipulate markets. We need transparency on what happened.”

Related Reading: $210 Million Crypto Meltdown: Did SEC Manipulate Bitcoin With Fake Tweet?

Echoing this sentiment, Senator Hagerty demanded accountability, stating: “Just like the SEC would demand accountability from a public company if they made such a colossal market-moving mistake, Congress needs answers on what just happened. This is unacceptable.”

Security Breach Or SEC Lapse?

X’s internal investigation revealed a critical lapse in the SEC’s cybersecurity measures, stating: “Based on our investigation, the compromise was not due to any breach of X’s systems, but rather due to an unidentified individual obtaining control over a phone number associated with the SEC account through a third party.”

But not everyone believes this theory. Among others, Bloomberg ETF expert Eric Balchunas speculated: “I think someone prepped a planned tweet and put the wrong date, bc the tweet would have made PERFECT sense tomorrow at this time. The language sounds legit SEC-ish IMO vs a crypto knucklehead pulling a prank but I guess we’ll see.”

He added that while there’s been some bits of evidence that point to a hack, “I’m sticking with my initial theory (for now) that it came from inside the SEC, a scheduled tweet gone bad..”

At press time, Bitcoin traded at $45,744.

Bitcoin price
BTC price falls below $46,000, 1-day chart | Source: BTCUSD on TradingView.com
Featured image from Shutterstock, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

Bitcoin

Michael Saylor Reveals The Only Thing ‘Better Than Bitcoin’ As MSTR Stock Outperforms

11 hours ago
Bitcoin Realised Cap Hits $1T All‑Time High: Strong Capital Base For Growth

Bitcoin Realised Cap Hits $1T All‑Time High: Strong Capital Base For Growth

14 hours ago
Bitcoin

Bitcoin Goes Mainstream With Massive Accumulations From Public Firms – Here’s How Many

17 hours ago
Bitcoin news

Bitcoin Refugee Adoption Could Hit 7.5 Million By 2035: New Study

21 hours ago
Bitcoin Crypto news Trump

Bitcoin And Crypto De Minimis Tax Exemption Backed By Trump, Says White House

1 day ago
bitcoin

Semler Scientific Expands Bitcoin Treasury With New Acquisition, Total Now 4,846 BTC

1 day ago

Premium Sponsors

Press Releases

  • TOKEN6900 Is Where the Next 1000x

    SPX6900 แตะ ATH ที่ $1.89 – TOKEN6900...

    2 hours ago
  • WLTH Opens Private Markets to Everyone with Launch of...

    5 hours ago
  • XRP ecosystem has made a major breakthrough! Cloud mining...

    17 hours ago
  • Start Bitcoin Mining Machines with “King of...

    21 hours ago
  • We do not produce Bitcoin, we just allow users around the...

    23 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.