BlockBeats news, on May 16, Benchmark senior equity research analyst Palmer stated in a research report that Coinbase disclosed a significant cybersecurity breach on Thursday and confirmed that the U.S. Securities and Exchange Commission (SEC) is investigating its past user metrics. This contrasts sharply with the news earlier this week that the company would be joining the S&P 500 index.
Palmer believes that this cyber attack is more of a one-time event, and the U.S. Securities and Exchange Commission's investigation is 'just noise' and unlikely to have any substantial impact on the bullish argument for the company's stock.