SEC coordinates with FBI on probe into agency's false X post (Cryptocurrency:BTC-USD)

01/11/2024 04:20
SEC coordinates with FBI on probe into agency's false X post (Cryptocurrency:BTC-USD)

The U.S. Securities and Exchange Commission is investigating a fake post on its account that caused a temporary spike in the price of bitcoin.

U.S. Securities and Exchange Commission (SEC)

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The U.S. Securities and Exchange Commission said Wednesday that it's joining forces with the Federal Bureau of Investigation and other law enforcement entities on a probe into a fake post from the agency's X account on Tuesday.

"The SEC continues to investigate the matter and is coordinating with appropriate law enforcement entities, including the SEC’s Office of the Inspector General and the FBI," an SEC spokesperson said in an emailed statement.

On Tuesday, an unknown party posted on the SEC's X account that the agency had granted approved for the listing of spot bitcoin (BTC-USD) exchange-traded funds, triggering a brief spike in the price of bitcoin. Shortly thereafter, prices took a turn south after the SEC responded about the compromise and noted no such approval had occurred.

The SEC spokesperson said any action on exchange rule filings will be posted on the regulator's website and then in the Federal Register.

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