Coinbase diving shares in the New York Times report on the investigation of SEC

Coinbase On Thursday, the US Securities and Stock Exchange Committee was verifying whether the encryption exchange was wrong in the numbers of users.

The stock was 6 % less.

The investigation focuses on the number of “verified users” reported by the company, which has claimed to be more than 100 million in various securities and marketing materials, according to the New York Times, which was mentioned for the first time The story That sent the shares less. The investigation started during the Biden administration, which was hostile to the encryption industry, and continued under the most suitable SEC in the Trump administration.

“This is a major investigation from the previous administration about a scale, we stopped reporting two and a half years ago, which was fully unveiled for the public,” Paul Groal, Coinbase’s chief official in a joint statement with CNBC. “We have made it clear that the scale of verified users includes anyone who verified his email address or his phone number with us, so he may suffer from the number of unique customers.”

“While we strongly believe that this investigation should not continue, we are still committed to working with the Supreme Education Council to close this issue,” he added.

Grewal also indicated that the company revealed a “more suitable measurement for monthly transactor users”, or the number of people who use a Coinbase in a specific month, and continue to do so.

Coinbase’s shares were already pressure after the company said Earlier Thursday That the infiltrators stole the customer’s information and were demanding $ 20 million. This incident may cost the Coinbase Group up to $ 400 million to fix it, the company estimated.

Coinbase runs the largest encryption exchange in the United States last week, The acquisition was announced It is expected to help her expand her global access and gain Log in the standard s & p 500 The stock index, which will be valid next week. In the profit call last week, CEO Brian Armstrong discussed his ambition to make coinbase. Financial services application No. 1 In the world “in the five years to the next ten years.