The U.S. Securities and Exchange Commission (SEC) appeared to have been hacked this morning, as false news about the approval of a Bitcoin spot ETF was released, causing significant market turmoil. Following the release of this false information, the Google search popularity for Bitcoin spot ETF surged to 100, reaching an all-time high. Interestingly, SEC Chairman Gary Gensler’s debunking tweet was also turned into an Ordinals NFT.
(Table of Contents)
– Bitcoin ETF search popularity spikes to 100
– Gensler’s tweet turned into Ordinals NFT
– U.S. Senators urge SEC to take responsibility
As the market eagerly awaits the potential approval of the Bitcoin spot ETF this week, the official SEC X platform account unexpectedly released a message this morning stating that the Bitcoin spot ETF had been approved and could be traded. However, SEC Chairman Gary Gensler quickly tweeted to clarify that the SEC account had been hacked and the tweet was unauthorized.
The false news from the SEC caused significant fluctuations in the price of Bitcoin, which briefly approached $48,000 this morning before plummeting by $3,000. It briefly fell below the $45,000 mark. As a result, in the past 24 hours, the cumulative amount of liquidated funds in the cryptocurrency market exceeded $220 million, with over 73,000 investors being affected.
Furthermore, after the SEC’s false news was released, Google search trends showed that the Google search popularity for Bitcoin ETF reached its highest value of 100 in the United States, setting a new record. Dennis Porter, the founder of Satoshi Action Fund, jokingly commented that the SEC is very effective in marketing Bitcoin.
Image source: Google search trends
In addition, digital artist Billy Restey announced today that he has engraved Gary Gensler’s debunking tweet as Ordinals and permanently stored it on the Bitcoin blockchain with a sequence number of 53,995,422.
Meanwhile, several U.S. senators publicly condemned the SEC. Republican Senator Bill Hagerty from Tennessee stated:
Republican Senator Cynthia Lummis from Wyoming expressed:
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– 20-year veteran executive at SEC: The Commission has surrendered! Bitcoin spot ETF will be approved.