SEC Probes Coinbase Over User Number Claims, Signaling Broader Regulatory Changes

The U.S. Securities and Exchange Commission (SEC) is intensifying its investigation of Coinbase, raising questions about the cryptocurrency exchange’s reported user numbers. The probe, launched during the current administration, focuses on potential discrepancies in Coinbase’s 2021 IPO documents claiming over 100 million verified users, which has been removed from their marketing materials since 2023. Coinbase is under scrutiny for potential misrepresentation regarding its user base and the SEC seeks to determine the accuracy of these claims.