Bitcoin Pumps and then dumps after the SEC Twitter account is compromised and posts a fake announcement saying a spot ETF was approved.

Something wild just happened. THE SEC posted a tweet saying that the Spot ETF was approved.

Bitcoin Spiked and then dumped, normal sell the news market volatility… right?

Nope apparently the ETF was never approved a follow up tweet by Gary Gensler said the SEC twitter account was compromised and that it was an unauthorized Tweet.

The SEC announcement post is now deleted.


With that lets acknowledge this SEC tweet from Oct. 2023.

I have a feeling if this wasn't an intern screwup – whoever made that fake announcement likely made huge money on volatility…

Regardless of what happens on the supposed announcement later this week, this is going to be a stain on the inevitable news.

reddit imagereddit imagereddit imagereddit image

50 thoughts on “Bitcoin Pumps and then dumps after the SEC Twitter account is compromised and posts a fake announcement saying a spot ETF was approved.”

  1. Why is Gary’s tweet at 3:26 PM and the SECs tweet at 4:11 PM 😳🤔

  2. If the market has been correcting, The actual “news” will make it go up. Its good news

  3. If this doesn’t make you wanna grab pitchforks and torches I don’t know what will.

  4. Seems like they’re getting liquidation going so the whales can invest more right before a massive jump. They know what’s coming. Hold on tight – about to be a massive ride.

  5. I don’t understand what takes so long to decide if they’ll approve it or not? Is it paperwork? Process? A required time period? Politics?

  6. You guys ever think about how pissing, shitting, and fucking all happen in a 2 in radius?

  7. Who do we know that hates the SEC, loves pumping and dumping, and has the means to hack a Twitter account? Who could it possibly be?!?? /s

  8. I’ve always kind of wondered about stuff like this happening, and then being surprised it doesn’t happen more often

  9. How do we not know if this was a ‘bluff’ to see what type of action *could happen upon the announcement – approved, liquidity pours in – disapproved, people start to dump, etc. basically like a stunt at the line of scrimmage in football by a defense to try and lure the offense to tip their hand…?

  10. who cares? i’m not selling til I retire and I figure most smart people aren’t.

  11. How would they make any money? It was a $2000 swing. Unless they drove the price down purposely to buy it 45.

  12. This looks so bad on the whole cryptocurrency ecosystem.

    Typical bad actors who ruin the fun for everyone else.

  13. That “fake” announcement looked too professional and legitimate to be “fake,” imo. I believe it was real and prematurely sent.

  14. A good glimpse into the powers at play, decent time to protect your Bitcoin mining stocks, bitcoin will do fine.

  15. So basically now we all know, when it gets approved it’s only going to spike up to $48K

  16. Do you ever wonder what could be done with all the money put into this fake coin if it was used for other purposes?

  17. They use this “mishap” today as an excuse to not approve the spot etf application

  18. Imagine thinking the SEC account got hacked, and it wasn’t just a coordinated pump and dump by the same people who pass through the Wall St revolving door every day.

    For fuck sake, they repealed glass-steagall and never implemented or enforced most of Dodd-Frank. You’ve got CDOs back, too.

  19. Lots of Twitter accounts been hacked lately even with 2fa, must be some serious vulnerability.

  20. If you’re just now getting into Bitcoin you’re already too late. What’s the best it’s gonna do? Double? Great if you buy in millions of $$ or higher. But put in $10k on this risky investment only to be able to walk away, maybe, with $20k? No thanks.

  21. Blame X for internal incompetence. Widely disliked Elon is why the sec is negligent.

  22. Yeah, it was a pretty good crack move by someone. Excellent way to create a little pump for the dumping, right? Too much attention was on the SEC ruling to ignore that little opportunity.

    Proud of them, whoever it was. Bravo.

    And my trading algo bot did a good move on it, so I’m extra happy, lol.

  23. The SEC used legislation and became confused. It hurt itself in the confusion. SEC fainted.

  24. I’m not gonna lie…I watched this happen in real time and I let out the biggest Fuck yeah followed by I’m going to the shed to end it all in 1:30 sec. What a great Tuesday.

  25. I’m sure this will really help the problem of people seeing Crypto as corrupt and unserious…

  26. If people think Bitcoin is a wise investment and stable, they are in for a wake up call when it’s last one to the door when it tanks eventually. It has literally no inherent value other than people think it will go higher..

Comments are closed.