SEC to Investigate…SEC?

GM! Crypto is rarely dull! The recent episode involving a misleading tweet from the SEC has added an extra layer of complexity to an already volatile market. This incident has raised questions about the need for an internal investigation by the SEC, as the tweet played a role in intensifying market fluctuations.

ICYMI

• The SEC's Twitter account was hacked and a fake tweet claiming that a BTC Spot ETF was approved was posted

• Senator Bill Hagerty says what happened with the SEC is unacceptable and Congress needs answers

• SEC says they will work with law enforcement to investigate hack

• Valkyrie Chief Investment Officer says Ripple & Ethereum spot ETFs could come to market now that the SEC is about to approve one for Bitcoin

• X to launch peer-to-peer payments this year

Good Meme

Narrative of the week: ETF Chaos

The crypto market has indeed been witnessing some of the most erratic behaviors in recent weeks, characterized by unprecedented volatility. This volatility has been particularly impactful for traders using leverage, with significant fluctuations in prices leading to extreme pumps and dumps, especially in anticipation of the ETFs.

This environment has created a challenging landscape for traders attempting to capitalize on these market movements, as successfully navigating such volatility requires both skill and timing.