Can one tweet disrupt financial markets globally? The hacking of the @secgov account this week turned the @bitcoin price upside down and, in the process, has shown us why it is necessary to tread carefully in these digital worlds 👇🏼
https://www.tarlogic.com/blog/cryptocurrency-fraud-social-media-hacking/
Shitter shouldn’t be used by any respectful agency or person
Don’t we accuse hedge funds of market manipulation as well? Isn’t it the same thing?
They use words like speculation, forecast, futures, etc but the ends are always to use mass media to influence people’s thinking and cause a desirable reaction from the market that aligns with the position they’ve taken.
When it works, they say they’re good at reading the market. When it’s worked against, they say someone’s manipulating the market.
This hack was a quick play, so easier to criminalize.
What am I missing here?
