The Block’s Price Page for bitcoin
The price of BTC rose to around $47,950 before crashing to $45,285. Currently, it is trading at $45,881.
The fake post
At 4:11 p.m. ET, a fraudulent post was sent from the U.S. Securities and Exchange Commission’s compromised X account. The post claimed that the SEC had approved Bitcoin ETFs for listing on all registered national securities exchanges. It also included a quote from SEC Chair Gary Gensler praising the approval.
However, The Block has confirmed that the post was fake and that its X account had been compromised.
About Author
MK Manoylov has been a reporter for The Block since 2020. They have written numerous articles covering various crypto topics and hold a graduate degree from New York University’s Science, Health and Environmental Reporting Program (SHERP).
Hot Take: The Impact of Fake News on Crypto Markets
Fake news can have a significant impact on crypto markets, as seen with the fraudulent post about Bitcoin ETF approval. Such false information can cause sudden price movements and lead to confusion among investors. It is crucial to verify the authenticity of news before making any investment decisions. This incident highlights the need for increased security measures to prevent unauthorized access to official accounts and protect investors from misinformation.
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