Coinbase Agrees to Pay $6.5 Million to Settle CFTC Data Probe

Coinbase Global Inc. will pay $6.5 million to settle claims by the Commodity Futures Trading Commission that the crypto-exchange giant reported inaccurate data about transactions and that a former employee engaged in improper trades.

The settlement, which was announced by the regulator late Friday, comes as Coinbase presses ahead with plans to go public through a direct listing. The company, which has been valued at about $90 billion in private markets, revealed in a regulatory filing last month that it was the subject of a CFTC investigation.

According to the CFTC, Coinbase, the biggest U.S. crypto exchange, recklessly sent ...