{"id":226953,"date":"2024-01-10T14:46:30","date_gmt":"2024-01-10T09:16:30","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=226953"},"modified":"2024-01-10T14:46:30","modified_gmt":"2024-01-10T09:16:30","slug":"vaneck-advisor-labels-secs-fake-approval-post-as-inside-job-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/vaneck-advisor-labels-secs-fake-approval-post-as-inside-job-crypto-news\/","title":{"rendered":"VanEck Advisor Labels SEC’s Fake Approval Post As ‘Inside Job’ – Crypto News"},"content":{"rendered":"

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Bitcoin ETF applicant VanEck<\/a>\u2018s Strategy Advisor, Gabor Gurbacs, recently made a shocking statement about the U.S. Securities and Exchange Commission\u2019s (SEC<\/a>) fake approval post. He labeled it as an \u201cinside job,\u201d citing loopholes in the aftermath of the event. In addition, several other crypto critics have been supporting this claim.<\/p>\n

Also Read: Bitcoin Whiplash on Bogus ETF Approval News Sparks Market Manipulation Memes<\/a><\/strong><\/p>\n

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SEC Wants To Delay Bitcoin ETF Approval?<\/h2>\n

In a post on X, Gurbacs underscored the fake post as the SEC\u2019s strategy to delay Spot Bitcoin ETF<\/a> approval. However, the VanEck advisor also noted that he believes the event shouldn\u2019t impact the deadline. In addition, he provided a possibility of the post being \u201cpublished early\u201d as he believes the regulatory body would eventually give a green light to Bitcoin ETFs.<\/p>\n

Furthermore, in another post, he said it was suspicious that the entire event was wrapped up in a few minutes. Gurbacs wrote, \u201cI am no cybersecurity expert, but it seems almost impossible to notice a bad tweet from org account, tweet from the chair\u2019s account to correct it, then recover a hacked social media account, then tweet about incident and response to it from hacked account, all in a few minutes.\u201d<\/p>\n

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Additionally, BitQuant, a crypto analyst on X, stated that SEC Chairman Gary Gensler should\u2019ve stayed mum about the event. The analyst noted that showcasing to the world how vulnerable they are would be of no help. Moreover, he noted that this move will downgrade their credibility, which takes \u201cyears to build and seconds to lose.\u201d He added that the regulators \u201cchose to sacrifice their credibility for a 5-minute inside trade and profit.\u201d<\/p>\n

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X Provides Clarity On The Matter<\/h2>\n

X\u2019s Safety wing recently clarified the matter, stating that the SEC\u2019s account<\/a> was indeed compromised. The post stated, \u201cThe compromise was not due to any breach of X\u2019s systems, but rather due to an unidentified individual obtaining control over a phone number associated with the @SECGov account through a third party.\u201d<\/p>\n

It added, \u201cWe can also confirm that the account did not have two-factor authentication enabled at the time the account was compromised.\u201d However, this raised further questions as to why the SEC, which is responsible for protecting investors from potential frauds and regulating the crypto domain, failed to enable 2FA on their account. Moreover, it\u2019s suspicious that a third party gained easy access to the phone number associated with the SEC\u2019s X account.<\/p>\n

Also Read: False SEC Approval Alert \u2014 Spot Bitcoin ETF Decision Still Pending<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Bitcoin ETF applicant VanEck\u2018s Strategy Advisor, Gabor Gurbacs, recently made a shocking statement about the U.S. Securities and Exchange Commission\u2019s (SEC) fake approval post. He labeled it as an \u201cinside job,\u201d citing loopholes in the aftermath of the event. In addition, several other crypto critics have been supporting this claim. Also Read: Bitcoin Whiplash on […]<\/p>\n","protected":false},"author":2,"featured_media":192751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-226953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/226953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=226953"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/226953\/revisions"}],"predecessor-version":[{"id":226959,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/226953\/revisions\/226959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/192751"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=226953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=226953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=226953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}