Those tweets caused bitcoin prices to immediately spike to $47,680 from the $46,800 level. It then fell as low as $45,400 as the tweets were found to be fake
Price volatility following a series of fake tweets from the U.S. Securities and Exchange Commission (SEC)’s X account caused nearly $90 million worth of bitcoin (BTC) long and short positions to be liquidated, showcasing manipulation risks associated with the industry. Hackers caught hold of SEC’s X account on Tuesday, using it to post a nod for the much-awaited bitcoin exchange-traded fund (ETF) approval decision. It later posted “$BTC ,” before both tweets were promptly deleted.
Those tweets caused bitcoin prices to immediately spike to $47,680 from the $46,800 level. It then fell as low as $45,400 as the tweets were found to be fake. Punters and automated bots, however, reacted quickly to the tweets. Over $500 million in futures positions were opened in a ten-minute period following the initial post, data shows. But the highly-levered positions took a hit as prices whipsawed: Some $50 million in longs were liquidated while $36 million in shorts were impacted
Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges
U.S. spot bitcoin exchange-traded funds (ETFs) appear to be on the verge of launching after the exchanges that will list them filed amended documents, suggesting they expect U.S. Securities and Exchange Commission approval in the coming days.The amended 19b-4 filings, filed on behalf of #BTC #ETFApprovalDreams and issuers, join last month's amended S-1 filings, addressing feedback from the U.S. Securities and Exchange Commission (SEC). More than a dozen applicants hope to launch the first spot bitcoin ETFs in the U.S.; it's likely multiple issuers will be approved simultaneously.Individuals at two different issuers told CoinDesk on Thursday that their companies anticipate approvals sometime next week.One of the individuals told CoinDesk that filing the amendments did not mean approvals were guaranteed but said they were optimistic.A final deadline for SEC action for at least one application, by Ark 21 Shares, is Jan. 10, suggesting the regulator may approve all of the final applications it is comfortable with by that date.This filing "is another important step towards uplisting GBTC as a spot bitcoin ETF," Grayscale spokeswoman Jenn Rosenthal said in a statement, referring to the company's bitcoin trust that it wants to turn into an ETF. "At Grayscale, we continue to work collaboratively with the SEC, and we remain ready to operate GBTC as an ETF upon receipt of regulatory approvals."#BinanceExchange #etf