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$COIN | Coinbase Chief Legal Officer: Reported Sec Investigation Is A Hold-Over From Prior Administration About A Metric We Stopped Reporting 2.5 Years Ago - Verified Users Metric Includes Anyone Who Verified Their Email Address Or Phone Number With Us
$COIN responds to NYT report: Chief Legal Officer says the SEC probe is “a hold-over from the prior administration” tied to a user metric Coinbase stopped reporting 2.5 years ago.
COINBASE CHIEF LEGAL OFFICER - STRONGLY BELIEVE SEC INVESTIGATION SHOULD NOT CONTINUE, REMAIN COMMITTED TO WORKING TO BRING THE MATTER TO A CLOSE
Coinbase Global Inc.'s Chief Legal Officer stated that the ongoing Securities and Exchange Commission (SEC) investigation is a remnant from the previous administration. The inquiry pertains to a user metric that Coinbase ceased reporting approximately two and a half years ago. This metric, referred to as the "verified users" metric, included anyone who had verified their email address or phone number with Coinbase. The legal head expressed a strong belief that the SEC investigation should not continue and emphasized Coinbase's commitment to resolving the matter promptly.
