Cryptocurrency news outlet Cointelegraph has publicly apologized for sharing unverified information concerning a spot Bitcoin ETF by BlackRock.
As reported by Cointelegraph, during routine coverage, its social media team posted a message without prior editorial approval. The message falsely claimed that the United States Securities and Exchange Commission had approved BlackRock’s iShares spot Bitcoin exchange-traded fund, or ETF. The source of this incorrect news was an unconfirmed screenshot posted by a user on social media.
The incorrect information was not published in an article, but was shared on social media, causing confusion amongst their readers. Cointelegraph expressed deep regret for the oversight and the impact it had.
An internal examination from Cointelegraph revealed that their usual procedure for posting breaking news on social media, which requires sources to be verified before posting, was not adhered to in this instance.
Following the discovery of the error, Cointelegraph reached out to BlackRock and the Bloomberg Terminal and subsequently removed the post. The cryptocurrency news outlet has since committed to reviewing its social media management processes, especially concerning verification of breaking news before posting.
In a statement, the Cointelegraph team said, “We are committed to learning from these mistakes and adhering to the highest standards of journalism.”
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