Bitcoin ETFail

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Shot:

Chaser:

And the hangover:

It also ruined someone’s night at Bloomberg.

The original tweet stayed up a surprisingly long time (were they worried about government record retention?) but it has now disappeared. The SEC has also posted the clarification statement on its main account.

We think this means approval of a bitcoin ETF should off the table because of the risk of price manipulation by the SEC’s X account.

Further reading
— SEC Fines Eight Firms for Deficient Cybersecurity Practices, Issues Warning About Importance of Robust Policies and Procedures and Accurate Disclosures (Clifford Chance)