The mighty SEC had its Twitter (X) account hacked and the culprits threw up a Tweet stating that they’d approved the much anticipated spot bitcoin exchange-traded fund (ETF).

A Tale of Tweets

The SEC's account gets hacked, the news comes out, the denial flies out the door, but it’s too late, too many outlets had reported it, and chaos ensues. It's all looking pretty bad for America's financial overlords.

Here’s the Tweet that started it all:

This was followed by a denial from the SEC’s Gary Gensler:

The Damage is Done

However, the damage was done. Bitcoin spiked as high as $47,897 following the SEC's X post and then fell to as low as $44,903.

Now the cat’s really among the pigeons, with $90 million in liquidations, and some within the community calling foul for market manipulation.

Not Twitter's Fault

X (Twitter) have come out and said that there was no breach of their systems and rumors are flying that the SEC didn’t have two-factor authentication turned on.

The SEC, the financial overlords of seemingly everything. Hacked. And it’s (quite possibly) because they hadn’t secured their account, and some outlets think an intern did it. It’d be deliciously sweet if it weren’t so serious.

But just pause and read this:

Whatever the case, we don’t know why the Tweet was sent and we don’t know who sent it. What is clear is that it’s incredibly embarrassing for the SEC.

Meme Material

In any case, here are some of the finest memes cooked up by Internet wits: