The SEC, along with the FBI and other law enforcement agencies, is investigating the fake post made from its official X account that claimed to have approved spot bitcoin ETFs. The post caused a momentary surge in bitcoin's price before the SEC announced that its account had been compromised and the post was fake. The SEC found that an unidentified individual had gained control of the account's associated phone number and that the post's text and image were not created by its staff. The agency plans to identify the person(s) responsible and will share any updates on the investigation.