In an odd turn of events, San Fransisco-based crypto exchange, Coinbase has proposed a joint cybersecurity effort with the United States Securities and Exchange Commission (SEC) following an account breach.
Coinbase To Assist SEC With Cybersecurity
On Tuesday, January 9, the cryptocurrency market was shaken up by an unexpected post from the official X (formerly Twitter) account of the US regulator. The post claimed that the agency had approved all Bitcoin Spot Exchange-Traded Funds (ETFs).
However, the regulatory watchdog later announced that the SEC’s X account had experienced a hack. This ultimately allowed the hackers to share false information on the approval of Bitcoin Spot Exchange-Traded Funds (ETFs).
In response to the bizarre development, Coinbase reached out to the SEC, while offering its assistance with cybersecurity matters. Coinbase Chief Security Officer (CSO) Phillip Martin initially noted the firm’s willingness to assist the SEC on X.
The news has since caused quite
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