The SEC will have to investigate itself for possible market manipulation after its X account was hacked and posted a false announcement that it had approved spot bitcoin ETFs. The crypto market reacted with volatility to the fake news and the subsequent denial by the SEC chair. The regulator is expected to make a decision on the first batch of spot bitcoin ETF applications by Wednesday.
A TechCrunch reporter tweeted that the SEC may approve multiple spot Bitcoin ETFs as soon as tomorrow, according to sources close to the matter. This would be a significant development for the crypto industry and the Bitcoin price.