| The market stumbled on Tuesday despite a hot start to the trading week. The Nasdaq was the day’s loan gainer with a minimal advance. S&P 500 [-0.1%]Dow [-0.4%]Nasdaq [<0.1%]Russell 2K [-1.0%]Futures are down again this morning, albeit by a thin margin. S&P contracts are holding steady with a loss of less than 0.1% at the moment.Stocks opened the trading week on a high note, with most U.S. benchmarks rallying by a point or more. The Most Overlooked Gold Play for 2024?
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🤣 AMATUER HOUR: SEC’s X Account Gets Hacked
An unauthorized user gained access to the Securities Exchange Commission’s X account late Tuesday, and hilarity ensued.
The hack became obvious after the SEC account published a post claiming it had approved Bitcoin ETFs for “all registered national security exchanges.”
BTC prices jumped past $43,000 on the news, but SEC Commissioner Gary Gensler quickly intervened on X and put the rumor to rest.
Gensler called the post “unauthorized” and reiterated the regulator had yet to approve any form of Bitcoin ETF.
Trolled 👺
X’s Safety team also chimed in on the matter, noting that the hack wasn’t the result of a failure in its systems.
An official representative from the SEC confirmed that their X account experienced unauthorized access for a short duration post-4 p.m.
The agency said its working with law enforcement to investigate the breach and determine appropriate actions.
Following the SEC's rectification, Bitcoin's value dipped under $46,000.
Bitcoin ETF on Deck? 🚀
Investors in the cryptocurrency market have been keenly awaiting the SEC's approval for spot bitcoin ETFs from major asset management firms like BlackRock and Fidelity Investments.
This anticipation has built up over more than ten years, and the regulator is expected to announce a key decision on spot Bitcoin ETFs as soon as today.
Many market watchers and crypto enthusiasts are optimistic about the likelihood of approval, citing recent intense interactions involving SEC staff, ETF providers, and exchanges to finalize operational aspects of these funds.
Yesterday’s “announcement” wasn’t legit, but the real thing could be coming soon.
Until then, the SEC should probably activate 2FA on its X account. 😆
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