Key Points:
- Cointelegraph apologizes for mistakenly reporting that SEC had approved BlackRock’s Spot Bitcoin ETF.
- The false announcement caused a surge in Bitcoin prices, followed by a sharp decline.
- The false announcement led to $100 million in liquidations across the network and make Whale loses $49,000 just in 10 minutes.
Cointelegraph apologizes for mistakenly reporting that the Securities and Exchange Commission (SEC) had approved BlackRock’s Spot Bitcoin ETF.
Cointelegraph Apologizes for False Bitcoin ETF News
Cointelegraph apologizes on X platform: “We apologize for a tweet that led to the dissemination of inaccurate information regarding the Blackrock Bitcoin ETF. An internal investigation is currently underway. We are committed to transparency and will share the findings of the investigation with the public once it is concluded within 3 hours.” Earlier tonight, Cointelegraph sparked heated debate after posting a false tweet that read “US Securities and Exchange Commission (SEC) approves BlackRock’s iShares Bitcoin Spot ETF”, which causing violent fluctuations in the market.
According to data from Coinglass, the cryptocurrency community saw a startling $100 million in liquidations across the network in the previous hour, of which $31 million belonged to long orders and $72 million to short positions. A Whale also spent a total of 613,201 USDC to purchase 20.5 WBTC, which was then sold for 563,970 USDC after it was discovered that the report was untrue.
The false announcement had a significant impact on the crypto community, especially among investors eagerly anticipating the approval of BlackRock’s Spot Bitcoin ETF. The news caused a surge in Bitcoin prices, only to witness a sharp decline when the truth was revealed. This incident serves as a reminder of the importance of verifying information from reliable sources before making investment decisions.
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