The SEC is investigating Coinbase regarding its reported user numbers, focusing on transparency and potential misreporting of over 100 million verified users. This inquiry began under the Biden administration and is ongoing, leading to concerns among investors.
In response, Coinbase has engaged the law firm Debevoise & Plimpton and aims to resolve the issue amicably with the SEC, although the company ceased reporting this metric two and a half years ago.
Regulatory scrutiny persists, with implications for investor confidence in cryptocurrency exchanges, highlighting the critical need for compliance and accurate user data reporting.
Full story here: https://coincu.com/337813-coinbase-sec-user-data-probe