Get All Access for $5/mo

The SEC's X Account Was 'Compromised,' Sent an 'Unauthorized' Bitcoin Post The post briefly caused the price of Bitcoin to spike.

By Entrepreneur Staff

Photo illustration by Chesnot | Getty Images
In this photo illustration, a visual representation of the digital cryptocurrency Bitcoin is displayed in front of Securities and Exchange Commission (SEC) logo. The first American Bitcoin ETF could be authorized by the SEC (Commissioner of the American S

The U.S. Securities and Exchange Commission (SEC) said on X on Tuesday that its account was "compromised," and it sent out an "unauthorized post" about bitcoin exchange-traded funds (ETFs).

The post in question has since been deleted, but it said the SEC approved bitcoin ETFs for trading and briefly caused the price of bitcoin to hit $47,897 before lowering to around $45,000, per Markets Insider.

"The SEC's @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff," an SEC spokesperson told CNBC.

RELATED: Bitcoin Is Back. Here's What's Fueling the Surge.

An SEC spokesperson told CNBC later on Tuesday that an "unknown party" had unauthorized access to the SEC's X account "for a brief period" just after 4 p.m. ET.

A decision is expected on Wednesday. At least a dozen asset managers, including BlackRock and Fidelity, have filed applications to create the funds.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.