Vladimir Okhotnikov: The SEC Antics Before the Spot BTC-ETF Approval Are a Threat to Investors

An article The SEC Compromised Itself focuses on the alleged hacking of the Securities and Exchange Commission (SEC) account just before the spot BTC-ETF approval. Vladimir Okhotnikov, a publicist and author of numerous studies on crypto regulation, analyzes these non-trivial events.

Information about the hack came from the SEC itself on January 10, 2024: then a message appeared on its X (former Twitter) account @SECGov stating that the decision on the imminent adoption of BTC-ETF had already been made. But the post was soon deleted without comment.

This event caused justifiable indignation in the cryptocurrency community. According to Kurt Gottschall, a trading partner at Haynes Boone, this is not the first time the SEC has demonstrated inadequacy. This means that the world has witnessed that the Commission is not interested in real investor protection:

“Since Gensler & Co. are not able to protect their accounts, they are unlikely to defend the interests of ordinary investors,” believes Vladimir Okhotnikov.

This assumption is also supported by the fact that neither the head of the SEC, Mr. Gensler, nor other senior officials of the Commission have provided plausible comments on the hacking of their own account.

The expert points out that the irresponsible behavior of the regulator may indicate that the Commission, apparently, did not implement two-factor account authentication. In any case, the situation requires immediate action from the general public.

Vladimir Okhotnikov shared his vision of why the SEC, which in the fall of 2023 brought serious criminal charges against the head of Binance Changpeng Zhao (CZ), in this case limited itself to ridiculous excuses about a “minor incident.”

Among other things, the article claims that the Commission’s actions were aimed at discrediting the cryptocurrency industry and blockchain technologies:

“...The SEC wants to once again demonstrate the unreasonably high risks of investing in cryptocurrencies. Which is an obvious untruth, since this market has existed for several years and is perfectly predictable, unless there is regulatory intervention,” adds Vladimir.

Vladimir Okhotnikov pays special attention to the internal investigation conducted by X specialists. Read about this and much more in the original article Someone Wanted to Turn ETFs into Fanatics’ Wet Dreams.

About Vladimir Okhotnikov

Vladimir Okhotnikov is an expert whose articles demonstrate a deep understanding of the trends that will soon determine the future of the cryptocurrency market. He is a recognized authority on blockchain technologies, long-term investments and revolutionary technology solutions.