The posting, which has since been deleted, pre-empted an imminent announcement from the SEC about whether it will approve the trading of spot bitcoin ETFs.
The fake post featured a photo of SEC chair Gary Gensler and a convincing quote: “Today’s approval enhances market transparency and provides investos with efficient access to digital asset invesments within a regulated framework.”
Within fifteen minutes of the post going live on X, Gensler hastily took to the platform to deny that any such approval had been given.
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