Was SEC account 'compromised'?

Moments later, SEC Chair Gary Gensler said in a post on his own account that the agency’s account was “compromised, and an unauthorized tweet was posted.” The SEC followed up with a post reiterating Gensler’s statement. A spokesperson for the SEC also confirmed to CNBC that an “unknown party” had accessed its account.

Was X a hacked post announcing approval of a bitcoin exchange-traded fund?

NEW YORK (AP) — The Securities and Exchange Commission said Tuesday that a post sent from the agency’s account on the social platform X announcing the approval of a long-awaited bitcoin exchange-traded fund was “unauthorized,” and that the agency’s account was hacked.

How did the SEC's fake approval of bitcoin ETFs affect the price?

Whoever compromised the SEC’s account also began liking posts from crypto-focused accounts that expressed excitement about the SEC’s false approval of Bitcoin ETFs. Even though the SEC’s fake post was only live for a matter of minutes, it still managed to trigger a steep spike in the price of Bitcoin that brought it from around $46,746 to $47,863.