An unauthorized post on the SEC’s official X account falsely announced the approval of Bitcoin Spot ETFs, causing uproar in the crypto industry. This incident quickly caught the attention of several cryptocurrency leaders, who expressed their dissatisfaction and criticism on X.
Criticism and Calls for Accountability
Tyler Winklevoss, co-founder of Gemini, accused the SEC of harming US investors and called for the agency to be held accountable. Meanwhile, Brad Garlinghouse, CEO of Ripple and a former target of the SEC, suggested that the agency should investigate itself. Michael Saylor, co-founder of MicroStrategy, ironically commented that “Bitcoin will be the only thing approved twice by the SEC.”
Paul Grewal, Coinbase’s chief legal officer involved in a legal battle with the SEC, expressed his frustration in a veiled manner. Other actors, like Edward Snowden, directly attacked SEC Chairman Gary Gensler (the tweets have since been deleted).
Meanwhile, Elon Musk, founder of Tesla and owner of the X platform, took the opportunity to bring DogeCoin back into the spotlight with a joke about a potential password used by the SEC.
Specialized analyst Eric Balchunas believes that the tweet was indeed written by the SEC, even if it was published prematurely by a hacker. He also speculates that the Bitcoin Spot ETFs will still be accepted by the SEC as early as this Wednesday.
