|
thisCrowd - Audio Read
Getting your Trinity Audio player ready...
|
Cointelegraph found itself at the center of a storm. It all began on a fateful October 16, 2023, when a single tweet rocked the crypto markets, sending Bitcoin on a rollercoaster ride that left traders and enthusiasts alike both bewildered and amused.
In the midst of the cryptocurrency frenzy, the buzz around prospective Bitcoin spot ETFs was reaching a fever pitch. All eyes were on BlackRock, the world’s largest asset manager, as it sought approval for its proposed ETF. The stage was set for an explosive turn of events.
Cointelegraph, a respected name in the world of crypto journalism, took center stage in this drama. In a tweet that would go down in crypto history, they boldly claimed that U.S. regulators had given the green light to BlackRock’s ETF. The crypto community held its collective breath as Bitcoin’s price abruptly skyrocketed from $27,700 to $29,400 in a mere hour.
Yet, as the saying goes, “Don’t believe everything you read on the internet.” Many analysts raised their eyebrows at Cointelegraph’s audacious statement. The cautious souls among them immediately sought confirmation from other sources, sensing that something was amiss.
Their suspicions were confirmed when, in a twist of fate, Cointelegraph’s reporting was proven inaccurate just one hour after the tweet’s publication. Bitcoin, which had briefly touched the skies, swiftly plummeted back to Earth, shedding most of its gains within a mere 45 minutes.
Cointelegraph didn’t shy away from owning up to their mistake. They responded by quickly editing and then deleting the infamous tweet. With utmost transparency, they acknowledged the error and initiated an internal investigation to uncover the origins of this colossal blunder.
The revelations from this investigation were astounding. Cointelegraph’s standard procedure for posting breaking news on social media, which typically required rigorous source verification, had been bypassed in this instance. The source of the misinformation was traced back to a now-deleted Telegram account that had claimed to relay the news from Bloomberg Terminal.
The crypto community couldn’t help but speculate about the bizarre turn of events. Some wondered if this was an elaborate insider trading opportunity gone wrong. The rumors gained momentum when a crypto casino called Rollbit posted a screenshot that appeared to show an account named “Cointelegraph” profiting over $2.2 million from a 50x leveraged long position on that fateful day.
However, like any good story, this one had its twists and turns. Scott Melker, the host of the Wolf Of All Streets podcast, intervened to debunk the rumors. He shared a screenshot from Rollbit’s trading leaderboard, and the purported “Cointelegraph” account was nowhere to be found.
In the end, this tale served as a stark reminder of the power and responsibility of crypto journalism. One tweet sent shockwaves through the markets, but it was the resilience and transparency of Cointelegraph that brought stability back to the crypto world.
So, the next time you come across a sensational crypto headline, remember the day when a single tweet sent Bitcoin on a wild ride. And as the crypto world continues to evolve, we’ll be here, sharing the stories that keep you informed and entertained.
