Coinbase Stock Plunges 7% Amidst Data Breach & SEC Probe

Crypto exchange Coinbase faces serious challenges as it battles a data breach and an ongoing Securities and Exchange Commission (SEC) investigation. CEO Brian Armstrong acknowledged the issues in addressing investor concerns, leading to a 7% drop in the company’s stock price. The crisis involves both a breach of user data and regulatory scrutiny over reported metrics. 7% Stock Decline Reflects Investor Distrust in Coinbase’s Security. The SEC probe into Coinbase’s user figures has intensified investigations into potentially inflated numbers, raising concerns about compliance with regulations.