25-Year-Old Man Pleads Guilty to Hacking SEC’s Twitter Account
Eric Council Jr. pleaded guilty to hacking the SEC's social media account, posting a fake announcement about Bitcoin ETF approval. He used a false ID to access the SEC’s credentials.
Key Details
- Council was charged with conspiracy to commit aggravated identity theft and access device fraud.
- He faces forfeiture of up to $50,000 from illicit activity.
- Sentencing is set for May 16.
- The fake post caused Bitcoin price to surge over $1,000 within 24 hours.
- The SEC later confirmed its account had been compromised.
- Council was arrested by the FBI in October.
Spot Bitcoin ETFs Performance
Approved spot Bitcoin ETFs are seeing significant inflows. In early 2025, they gained $245 million, attributed to Fidelity’s FBTC and ARK 21Shares Bitcoin ETF.
- BlackRock’s iShares Bitcoin Trust acquired 1,478 BTC, totaling over $155 million.
- Weekly purchases exceeded 11,000 BTC, with a daily trading volume of $6.8 billion.
Growing Demand for Crypto ETFs
Asset managers are responding to increased demand for crypto ETFs. Calamos Investments launched a "Protected Bitcoin ETF," offering a money-back guarantee if Bitcoin falls by 50% while capping gains at 11.5%.
- Filings for Solana and XRP ETFs are underway by various firms.
- Nasdaq filed forms with the SEC for CoinShares XRP and Litecoin ETFs.