The U.S. Securities and Exchange Commission's social media account on the platform X, formerly Twitter, was temporarily hacked, with a false announcement posted about the approval of bitcoin ETFs, which briefly spiked bitcoin's price. The SEC clarified that it has not approved any spot bitcoin ETFs and is working with law enforcement to investigate the incident, while X confirmed the account compromise was due to a third party obtaining control of the SEC's phone number, not a system breach, and noted the SEC's lack of two-factor authentication at the time.