{"id":85824,"date":"2023-10-17T13:03:13","date_gmt":"2023-10-17T10:03:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85824"},"modified":"2025-09-13T01:42:10","modified_gmt":"2025-09-12T22:42:10","slug":"cointelegraph-reveals-details-of-fake-bitcoin-etf-story","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cointelegraph-reveals-details-of-fake-bitcoin-etf-story\/","title":{"rendered":"Cointelegraph reveals details of fake Bitcoin ETF story"},"content":{"rendered":"

On 16 October, the crypto media outlet Cointelegraph published a post on X about the approval of a spot Bitcoin-ETF<\/a> by BlackRock. Against the backdrop of the news, Bitcoin’s price quickly jumped to $30,000, but the asset also fell just as rapidly after reports of a fake.<\/p>\n

The US Securities and Exchange Commission (SEC), BlackRock itself<\/a> and a number of other media outlets issued a denial.<\/p>\n

Later that same day, Cointelegraph published a piece with apologies and an explanation of the situation. According to representatives of the publication, the social media post was hastily published without the editor’s approval.<\/p>\n

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\u201cIt was a lie, the result of misinformation. The source of the news was an unverified screenshot from an X user who claimed to have taken it from a Bloomberg terminal,\u201d the release states.<\/p>\n<\/blockquote>\n

According to an internal investigation, the editorial policy on fact-checking before publication was not followed.<\/p>\n

At 16:17 (Kyiv\/Moscow time), the Cointelegraph team located information about the approval of the Bitcoin-ETF. For a while, the journalists cross-checked the facts and could not determine their authenticity. However one staff member rushed and posted the post on X.<\/p>\n

Subsequently, the Telegram account that had been the original source of the news was deleted.<\/p>\n

Initially no one noticed the catch, as Bitcoin’s price rose, as is often the case in the wake of significant positive news. But by 16:48 Cointelegraph had received the first reports of the fake information.<\/p>\n

Journalists began searching for an alternative source, but none was found. The editors then decided to add a warning about unverified information (appending "reportedly" at the end of the sentence).<\/p>\n

\"In
Cointelegraph staff correspondence. Data: Cointelegraph.<\/figcaption><\/figure>\n

Subsequently Cointelegraph approached Bloomberg and BlackRock for confirmation and, not obtaining it, removed the post. After 17:00, staff noted a large number of liquidations.<\/p>\n

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\u201cThe incident reminded the Cointelegraph team that our actions have serious consequences for the cryptocurrency community. We strive to learn from our mistakes and adhere to the highest standards of journalism,\u201d the company concluded.<\/p>\n<\/blockquote>\n

Following the incident, crypto users criticised the publication and began constructing their own theories. Rollbit, a trading platform, attached a screenshot of a suspiciously profitable trade by a user with the handle Cointelegraph.<\/p>\n

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This you? pic.twitter.com\/itGbMEKByV<\/a><\/p>\n

\u2014 Rollbit (@rollbitcom) October 16, 2023<\/a><\/p><\/blockquote>\n