Cryptocurrency markets experienced a rollercoaster ride following a false announcement on the U.S. Securities and Exchange Commission’s (SEC) official social media account, X. The misleading post claimed that the SEC had approved the first-ever U.S. spot bitcoin exchange-traded funds (ETFs). The SEC promptly clarified that its X account was briefly compromised, and the posted message about approving bitcoin ETFs was unauthorized and inaccurate. Bitcoin’s price surged to nearly $48,000 in response to the fake announcement…
