United States lawyers and senators have called on Congress to demand an investigation into the U.S. Securities and Exchange Commission after its X (formerly Twitter) account was reportedly compromised and falsely reported news that the spot Bitcoin (BTC) exchange-traded funds (ETF) were approved.
“Just like the SEC would demand accountability from a public company if they made such a colossal market-moving mistake, Congress needs answers on what just happened. This is unacceptable,” said U.S. Senator Bill Hagerty in a Jan. 9 X post.
U.S. Senator Cynthia Lummis also demanded the SEC offer some transparency into the events that led to the false post.
Fraudulent announcements, like the one that was made on the SEC’s social media, can manipulate markets. We need transparency on what happened.
— Senator Cynthia Lummis (@SenLummis) January 9, 2024
Charles Gasparino of Fox Business said he’s been told by securities lawyers that the SEC “will have to investigate itself” for market manipulation.
BREAKING: Securities lawyers tell @FoxBusiness the @SECGov will have to investigate itself for market manipulation after moving the price of $BTC up and down following the hacked tweet that it had approved the first spot BTC ETF and then saying it was fake. That said, for the SEC…
— Charles Gasparino (@CGasparino) January 9, 2024
Concerns were flagged by U.S. Representative Ann Wagner, who referred to the incident as “clear market manipulation” that impacted millions of investors.
“I plan to get more answers from Chair Gensl
Go to Source to See Full Article
Author: Brayden Lindrea
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
