SEC's Unauthorized Bitcoin Tweet Sparks Backlash, Surprise from Cathie Wood
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Cathie Wood of Ark Invest commented on a false SEC tweet that caused Bitcoin prices to briefly surge. She was surprised to see an SEC post about approving a Bitcoin ETF.
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The unauthorized SEC tweet came from an employee not having two-factor authentication to access the account rather than it being hacked.
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Wood called cryptocurrency "a public good" and "new asset class" and affirmed Ark Invest's commitment to providing accessible ways for regular investors to access crypto.
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Senators sharply criticized the SEC for the false tweet that misled investors and caused volatility in crypto prices.
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Investors eagerly await the SEC's decision on several proposed Bitcoin ETFs, including one from Ark Invest, with potential spot Bitcoin ETF approval possible this week.