Funny how the SEC — supposedly a major entity when it comes to investments, didn't use 2-factor authentication(2fa) on their Twitter/X account despite them knowing how much influence Tweets from their account will have. They're a freakin joke.
https://twitter.com/safety/status/1744924042681897343
This is embarrassing. An important institution like the SEC doesn't have a simple mechanism to protect their account and this has led to such a disgraceful event. For me, I think SEC Chair Gary Gensler is lying that the SEC account was compromised. I think a staff who had access to the account made this tweet without authorisation from the Chairman and other top SEC officials. X released a statement that the SEC account was compromised due to any breach of their system. This shows that the SEC is covering up their mess. https://twitter.com/safety/status/1744924042681897343
Another perspective is that it was an approved tweet but some powerful politicians like the President might not be comfortable with approval and they mounted pressure on the SEC to deny the tweet. I guess we now have a higher possibility of disapproval because of the current situation. Some US Legislatures especially Republicans have been angered by this drama and might probe this shameful event.
