SEC says Twitter account was compromised, it's not approved a bitcoin ETF

• Gary Gensler said the SEC's X social media account was compromised on Tuesday.
• The SEC X account had announced that the regulator approved bitcoin ETFs for trading.
• The price of bitcoin initially spiked to as high as $47,897 following the SEC's X post and then fell to as low as $44,903.

Gary Gensler said that the Securities and Exchange Commission's X social media account was compromised on Tuesday and that bitcoin ETFs have not been approved for trading.

Shortly after the market close on Tuesday, the SEC's X account posted a now-deleted announcement that it had approved bitcoin ETFs to begin trading, something that has been widely anticipated by the crypto market. That post was made by an imposter and was deleted soon after.