This one goes out to the movers, the shakers, the doers. If you want to make money from crypto, why buy and hodl? Instead, hack the SEC’s X account, post fake news about Bitcoin ETFs, and watch the sweet gainz roll in.

The lowdown

• ✂️ BlackRock cuts 3% of global staff, citing industry changes.

• 🎬 Amazon’s Twitch is laying off 35% of its workforce.

• 🚘 Tesla’s upgraded Model 3 is now available in the US.

Featured story

SEC’s X account is hacked causing bitcoin frenzy

Excitement ripped through the crypto community when the SEC appeared to approve Bitcoin ETFs. But just over ten minutes later, SEC Chair Gary Gensler clarified that the regulator’s X account had been compromised and nothing had been approved. The bitcoin price swung sharply.

A decision on Bitcoin ETFs is hotly anticipated, with an outcome due by today (January 10). BlackRock and Fidelity are among the big names that are hoping to issue one. The increased liquidity is expected to influence the digital currency’s price significantly.

The hack has raised questions about the SEC and X’s security. The regulator said it would work with US authorities to investigate the incident. X said it has completed a preliminary investigation and found the compromise wasn’t a breach of its own systems, but rather “due to an unidentified individual obtaining control over a phone number associated with the @SECGov account through a third party.”

The content we're consuming today

• From Jason: Where have all the websites gone?

• Economist: What happened to the artificial-intelligence investment boom?

• The Atlantic: If there are no stupid questions, how do you explain Quora? ($)

Off-balance sheet items

• If you haven’t heard about the secret tunnels under Brooklyn yet…

The bottom line