25-Year-Old Pleads Guilty in High-Profile SEC Twitter Hack Over Bitcoin ETF

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Ah, the audacious Eric Council Jr., a mere 25 summers old, has found himself in a delightful pickle, having pleaded guilty to the most charming of crimes: hacking the illustrious United States Securities and Exchange Commission’s (SEC) social media account. One can only imagine the thrill of such a caper, all in the name of Bitcoin ETF approval! 🎩💰

With the finesse of a seasoned trickster, our young Alabama gentleman and his merry band of miscreants concocted a most convincing ruse, posting a fictitious announcement proclaiming the approval of spot Bitcoin ETFs. And what a stroke of genius it was to employ a fake ID to access the sacred device housing the SEC’s account credentials! Truly, a masterclass in modern-day chicanery! 🕵️‍♂️

Alabama Man in Bitcoin ETF Hack Case

According to the rather serious filings in the US District Court of the District of Columbia, our dear Council was charged with conspiracy to commit aggravated identity theft and access device fraud. How dreadfully mundane! Yet, his legal representatives, perhaps in a fit of pragmatism, have opted to plead guilty and filed a “Consent Order of Forfeiture.” One must forfeit up to $50,000, believed to be the spoils of his nefarious exploits. A small price to pay for such a grand adventure! 💸

Judge Amy Berman Jackson, with a flair for the dramatic, has set Council’s sentencing for May 16. Mark your calendars, dear readers! 🗓️

Interestingly, Council’s mischievous post appeared just a day before the SEC, in a fit of bureaucratic efficiency, officially approved the much-anticipated offering. This little stunt sent the price of BTC soaring to a staggering $97,325 in less than 24 hours. A mere trifle, really, as the coin gained over $1,000 in a blink! 📈

It was, of course, a piece of cake for the hackers to capture the crypto community’s attention, given the fervent anticipation surrounding the fund. “Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges,” they proclaimed, just before the SEC dashed their dreams, citing that their account had been compromised. Oh, the irony! 😂

Our intrepid Council was later apprehended by the Federal Bureau of Investigation (FBI) in October, proving that crime, while thrilling, often leads to rather dull consequences. 🚔

Spot Bitcoin ETFs Thrive With Huge Inflows

On a more cheerful note, the spot Bitcoin ETFs that the SEC approved in January have been flourishing, much to the delight of investors. In the first week of 2025, SoSoValue data revealed a delightful influx of capital into Bitcoin spot ETFs, with a net addition of $245 million, thanks to the ever-reliable Fidelity’s FBTC and ARK 21Shares Bitcoin ETF (ARKB). 💼

Recently, BlackRock’s iShares Bitcoin Trust (IBIT) scooped up a staggering 1,478 BTC, worth approximately $155 million. This purchase brought its weekly acquisitions to over 11,000 BTC, and IBIT recorded the highest-ever daily trading volume, totaling a jaw-dropping $6.8 billion. Clearly, the investors are positively giddy with excitement over Bitcoin ETFs! 🎉

Asset Managers Push For More Crypto ETFs

In response to this burgeoning demand, asset managers are scrambling to create more crypto-based ETFs. Calamos Investments has launched the “Protected Bitcoin ETF,” a fund that guarantees a 100% money-back promise if Bitcoin falls by 50%. How delightfully optimistic! Of course, it also caps potential gains at a modest 11.5%. One mustn’t be too greedy, after all! 😏

Meanwhile, filings for Solana and XRP ETFs are popping up like daisies from VanEck, 21Shares, Canary Capital, and Bitwise. And let us not forget the illustrious Nasdaq, which has officially filed 19b-4 forms with the US SEC, seeking approval to list and trade the CoinShares XRP and Litecoin ETF products. If approved, these funds would grant investors direct exposure to XRP and LTC, both of which are currently dancing around their respective

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2025-02-11 01:21