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- Billy Restey has recorded SEC Chair Gary Gensler’s X post on the Bitcoin blockchain, providing clarity following a misleading ETF approval announcement that unsettled the crypto market.
Digital artist Billy Restey has etched U.S. Securities and Exchange Commission Chair Gary Gensler’s tweet refuting a false Bitcoin exchange-traded fund approval notice onto the Bitcoin blockchain.
This inscription was prompted by a security incident involving the SEC’s official Twitter account, which resulted in a deceptive post asserting that all thirteen spot Bitcoin ETFs had received approval, leading to a brief decline in Bitcoin’s price.
Restey’s inscription preserves Gensler’s clarification tweet, ensuring that this significant moment in cryptocurrency history remains recorded.
The misleading tweet, which surfaced on Tuesday, caused considerable disruption within the cryptocurrency community, with Bitcoin’s value dropping to just above US$45,500.
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See Also: SEC Chair Gary Gensler’s False Tweet Immortalized On Bitcoin Ordinal Forever
Restey’s inscription, numbered 53,995,422, is among more than 53 million Ordinal inscriptions generated since the protocol’s launch.
Ordinals, often compared to Ethereum-based non-fungible tokens (NFTs) on the Bitcoin blockchain, facilitate the creation of various digital assets, including images, text, and even video games.
In the past 30 days, Bitcoin has led the blockchain space for NFTs by sales volume, achieving over US$890 million in sales, according to CryptoSlam data. Ethereum, historically the top seller, reported over US$318 million in NFT sales during the same timeframe.
There are currently 13 spot Bitcoin ETF applications from prominent financial firms such as BlackRock and Fidelity pending SEC approval. The agency’s deadline for Ark/21Shares’ application is today (Jan. 10).
ETF analyst Eric Balchunas from Bloomberg indicates that the SEC may announce formal approvals for several spot Bitcoin ETFs as soon as 4 p.m. ET.
The post Restey Immortalizes Gary Gensler’s X Post On The Bitcoin Blockchain appeared first on BitcoinWorld.
