The post Will SEC Delay Spot Bitcoin ETF Approval Due to Hack? Possible Reasons Explained appeared first on Coinpedia Fintech News
The crypto community is going crazy from the fallout of an unexpected hack that has caused a downturn in the industry. The culprit? None other than the official X (Twitter) account of the Securities and Exchange Commission (SEC), which was compromised by an unknown hacker. The timing couldn’t have been worse, as the hack occurred just as the long-awaited decision on a spot Bitcoin ETF was set to be announced.
Bitcoin Plunges After Fake News of Approval
The consequences have triggered Bitcoin, which had been riding high at a record-breaking $47,000 just 24 hours prior, has plummet to $45,920 as a result of the hack. The sudden and sharp drop has left many investors disturbed, with some questioning whether this is the beginning of a broader downturn for the cryptocurrency market.
Is the Breached Account the Reason for Delay?
Might be or might not be! Howev
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