Online reports, CNBC reported that the U.S. Department of Justice said a judge sentenced an Alabama man to 14 months in prison for his involvement in the January 2024 hack of the U.S. Securities and Exchange Commission X account, which was used to send a tweet, causing the price of Bitcoin to briefly soar by more than $1,000. The man pleaded guilty three months ago in U.S. District Court in Washington, D.C., to conspiracy to commit aggravated identity theft and access device fraud, and to helping others take control of Securities and Exchange Commission accounts. The X account was used to falsely claim that the U.S. SEC had officially approved Bitcoin exchange-traded funds (ETFs). BTC rose after the tweet was released, but its price fell more than $2,000 after the U.S. SEC quickly regained control of the account and called the tweet false. It is worth mentioning that the US SEC said the next day that it had approved a rule change that would allow the creation of Bitcoin ETFs.