A misleading tweet on social media platform X, previously known as Twitter, causing a stir in the crypto market on January 9, is unlikely to have been posted by the U.S. Securities and Exchange Commission (SEC), according to Ron Hammond, Director of Government Relations at the Blockchain Association. The tweet falsely announced the approval of spot Bitcoin exchange-traded funds (ETFs), which the SEC later officially approved on January 10. Speculation arose that the premature tweet might have come from the SEC. Hammond noted that significant announcements, such as ETF approvals, typically undergo thorough review before posting, and the tweet's style, including the use of the Bitcoin logo and non-standard graphics, suggests it was not in line with the SEC's communication practices.
In a post on January 16, Hammond highlighted the likelihood of a communication error and emphasized that institutions and companies invest considerable time in perfecting their tweets for major events. He stated, "So the idea that someone accidentally pressed send makes sense." Hammond concluded that various elements of the tweet diverge from the SEC's communication style, making it improbable that the regulatory body was behind the tweet.
