Coinbase (coin) was investigated by a SEC on the wrong statement of user number.

The SEC is investigating COIN (Crypto Exchange Coinbase) regarding whether the number of users has been incorrectly used in securities applications and marketing materials.

According to the NYT, the SEC still started in the former president’s administration, but the SEC still reported the story, but continued under the current encryption leadership of the SEC.

The metrics at the center of the investigation are more than 100 million “proven users” in Coinbase. In 2021, the year was released in 2021, which was released in NASDAQ in 2021.

Paul Grewal, the chief legal director of Coinbase, said in a statement that sent an e -mail to Coindesk, “The previous executive’s suspension of the metrics reported from two and a half years ago was fully disclosed to the public.”

“The proven user indicator explains that the number of unique customers can be exaggerated because it contains a person who has identified the email address or phone number,” Grewal said.

“We believe that this investigation should not continue, but we continue to work to cooperate with the SEC to solve this problem.

The SEC did not respond to the request of Coindesk in Press Time.

The coin stocks, which are already under pressure due to the release of data leaks today, are a little further falling to the SEC news and now decreased 6.6% in the session.