Bitcoin spikes on false report
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 10 January 2024
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, January 10th. I'm Julie Morgan. The Securities End Exchange Commission says a post on X about |
| 0:16.9 | Bitcoin didn't come from them. Walmart says if you live where everything is bigger, you could get your packages even faster, and Amazon's |
| 0:25.8 | Twitch is laying off more workers. |
| 0:29.4 | The news came down on Tuesday that the Securities and Exchange Commission had approved a spot |
| 0:34.4 | Bitcoin E. T. F. But then they took it back. And to be more specific, the SEC |
| 0:40.0 | said it wasn't them that said it in the first place. Here's what happened. |
| 0:44.0 | There was a post on the social media platform X on the official account of the SEC |
| 0:49.2 | that said the regulator had approved a spot Bitcoin EDF. |
| 0:53.6 | Bitcoin initially spiked on the false news |
| 0:56.1 | surging to as high as 47.8,000, |
| 0:59.2 | only to erase those gains minutes later. |
| 1:02.3 | Right now, Bitcoin sits at 45.6,000. An SEC |
| 1:06.8 | spokesperson told Seeking Alpha in an emailed statement that the SEC's |
| 1:11.5 | official X account had been compromised. |
| 1:14.8 | The statement said that the unauthorized tweet regarding Bitcoin EDFs was not made by the |
| 1:19.8 | SEC or its staff. |
| 1:21.9 | The same general statement was posted on X on the SEC account and by the |
| 1:26.6 | SEC chair Gary Gensler. X released an update on the matter late Tuesday night confirming that a preliminary investigation |
| 1:34.8 | found that the SEC's account was compromised, but the compromise was not due to any breach of |
| 1:40.3 | its system. The statement went on to say that the breach happened due to an |
| 1:44.0 | unidentified individual obtaining control over a phone number associated with the |
... |
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