https://void.cat/d/WtDHwFGtPSNfi5zjtPfMM.webp

Gustav: On January 9th, the Securities and Exchange Commission (SEC) for the United States tweeted out the long-anticipated approval for Bitcoin Exchange Traded Funds (ETFs).

But there was a problem. The SEC had not approved these ETFs. The Chairman sent a Tweet declaring the first was in error and chiding people to be careful what they read on the Internet.

"The best source of information about the SEC is the SEC." Truly absurd.

Disregarding that this information came from the SEC's official social media account, the entire situation would be ridiculous if it wasn't so troubling. The information and later confusion moved markets- billions of dollars won or lost.

In any company, this would be clear market manipulation. There must be an investigation. X confirmed the SEC's account did not have appropriate security (no 2FA). Were they hacked? Did an insider make it up? Or release the information too early?

Who would normally conduct this type of investigation?

The SEC...

Unironically, there should be an independent Federal investigation into what happened here.

Remember what I have written before about confidence. Do you still have it?

If so, why?

#bitcoin #sec #bitcoinetf #garygensler #investigation

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