# CRYPTO KNOWLEDGE

By [Morries](https://paragraph.com/@morries) · 2024-01-11

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The regulator told Cointelegraph that its staff [did not have any involvement](https://cointelegraph.com/news/bitcoin-etf-approved-sec-twitter-hack-false-informa) in posting the “unauthorized” tweet and an investigation from X has confirmed the account was compromised and did not have two-factor authentication enabled at the time.

The incident caused the price of Bitcoin to surge roughly 2.5% to $47,901 before dropping roughly 7% to $44,701. Meanwhile, crypto X has been speculating what this could mean for the SEC and anticipated Bitcoin ETF approvals.

Meanwhile, several United States lawyers and [senators have called on Congress](https://cointelegraph.com/news/us-senators-letter-gary-gensler-congress-report-x-breach-4-days) to [demand an investigation](https://cointelegraph.com/news/lawyers-politicians-investigation-sec-bitcoin-etf-post) into the securities regulator after the debacle.

Many are hopeful the incident will not impact the [potential approval](https://cointelegraph.com/news/bitcoin-etf-decision-unlikely-to-delay-due-to-sec-x-hack-say-observers) of a spot Bitcoin ETF.

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*Originally published on [Morries](https://paragraph.com/@morries/crypto-knowledge)*