Coinbase Says It’s Cooperating With SEC on User Metrics Probe

May 15, 2025, 6:51 PM UTC

Coinbase Global Inc. is cooperating with the US Securities and Exchange Commission on an agency probe into its previously reported user metrics, the company said Thursday.

“This is a hold-over investigation from the prior administration about a metric we stopped reporting two and a half years ago, which was fully disclosed to the public,” Paul Grewal, Coinbase’s chief legal officer, said in a statement. “While we strongly believe this investigation should not continue, we remain committed to working with the SEC to bring this matter to a close.”

Grewal noted that Coinbase’s “verified users metric” might have overstated the number ...

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