QUICK TAKE

1.Following the agency's X account being compromised to send out an early notice of bitcoin ETF approval, Coinbase executives have openly offered to assist the SEC in resolving security issues on its social media accounts.
2.This is the case even though it is being sued by the SEC for purportedly operating an unauthorized exchange.

After the Securities and Exchange Commission (SEC) had a security compromise on its X account, Coinbase executives offered assistance. Chief security officer of Coinbase Philip Martin extends help, pointing to the exchange's knowledge of social media security procedures.

Paul Grewal, Chief Legal Officer of Coinbase, went one step beyond than his earlier statement that he was holding his tongue following the dissemination of the phony message. "Everyone on the Coinbase team is willing to assist. We're determined to contribute in order to provide all Americans with equitable, stable, and effective markets," he continued.

Despite being sued by the SEC for allegedly breaking securities laws and operating an unregistered exchange, Coinbase has made its offer.

Premature spot bitcoin ETF message from the SEC

The SEC announced on Tuesday that it had approved the listing of bitcoin ETFs on all registered securities exchanges. An image from the account featured a remark from SEC Chair Gary Gensler. It was quickly removed, and later posts claimed that it was not permitted and that at that time, spot bitcoin ETFs had not received approval.

In an effort to look into a security compromise on its X account, the SEC intends to work with law enforcement. Someone managing a related phone number was allegedly able to compromise the security, and the SEC was purportedly not using two-factor authentication. In a letter to SEC Chair Gensler, Senators J.D. Vance and Thom Tillis voice their displeasure, calling the episode "unacceptable".

In an effort to look into a security compromise on its X account, the SEC intends to work with law enforcement. Someone managing a related phone number was allegedly able to compromise the security, and the SEC was purportedly not using two-factor authentication. In a letter to SEC Chair Gensler, Senators J.D. Vance and Thom Tillis voice their displeasure, calling the episode "unacceptable".