Former SEC Regional Director: "False Official Announcement" incident will provide an excuse for cryptocurrency enthusiasts

The SEC's X account was hacked and announced the approval of a Bitcoin ETF, which briefly drove up the price of Bitcoin. U.S. authorities said they would investigate this incident. "This indeed shows the breadth and frequency of cyber attacks," said Kurt Gottschall, former regional director of the U.S. Securities and Exchange Commission (SEC). "Ironically, the SEC has not shown much sympathy for listed companies and asset management firms that have experienced cybersecurity incidents." This misconduct provided an excuse for cryptocurrency enthusiasts who have long regarded SEC Chairman Gensler as an "enemy" because he is keen on controlling this industry. For those critics who have been waiting for years for the SEC to approve a spot Bitcoin ETF, it is ironic that such cybersecurity incidents occur in a regulatory body that has repeatedly warned about online vulnerabilities in cryptocurrencies.