Re: Misleading Report on SEC Decision Shakes Bitcoin Market
On Monday, the crypto-focused media outlet Cointelegraph disseminated false information via social media platform X and its Telegram channel, triggering a more than 10% spike in bitcoin (BTC) value against the U.S. dollar.
The digital currency briefly touched $29,900 per coin before plunging to $28,100 per unit once the news was debunked. Cointelegraph, despite issuing an apology, was too late to prevent the market upheaval that resulted in the obliteration of $78.92 million worth of short positions.source
Although apology was tendered, the damages have already been done. Cointelegraph has remained a go-to, for people who wanted updates on the events in the Blockchain space and following closely on the legals with all Bitcoin related suits, it was almost impossible to believe that a renound firm as Cointelegraph will peddle such a fake news irrespective of whoever pepetrated the act. It further goes to say that one has to always "Do Your Own Research" as it is necessarily said in the crypto space.