Tag: research

Coinbase faces an research of the SEC on the historical metrics of the users: Report

[ad_1]

  • The shares fall 6% after a report on a federal investigation.
  • The regulatory scrutiny occurs when Coinbase fights with the sequels of a rape of revealed cybersecurity earlier in the day.
  • According to reports, computer pirates stole customer data and demand a rescue of 20 million dollars.

    • Coinbase confirmed Thursday that the US stock and values ​​commission. UU. It is investigating whether the company exaggerated the number of users in previous disseminations.

    The development, first reported by The New York Times, contributed to a fall of around 6% in Coinbase actions during the session.

    The research focuses on Coinbase reports on “verified users”, a metric that the company has cited in promotional presentations and materials for a total of more than 100 million.

    According to the report, the investigation originated during the Biden administration and has continued under the current SEC, which has adopted a comparatively more complacent position towards the cryptocurrency industry.

    “This is a retention investigation of the previous administration on a metric that we stopped informing two and a half years ago, which was completely disclosed to the public,” said Paul Grewal, legal director of Coinbase, in a statement to CNBC.

    He added that the number of verified users includes anyone who has completed an email verification or telephone number, which could have led to an overestimation of unique customers.

    Grewal also emphasized that Coinbase now focuses on a different dissemination: users who make monthly transactions, a figure that the company considers a more relevant indicator of the platform activity.

    “While we firmly believe that this research should not continue, we remain committed to working with the S to close this matter,” he added.

    Cybert

    The regulatory scrutiny occurs when Coinbase fights with the sequels of a rape of revealed cybersecurity earlier in the day. According to reports, computer pirates stole customer data and demand a rescue of 20 million dollars. Coinbase estimates that the incident could cost the company to USD 400 million.

    The moment aggravates an already volatile period for the company. Coinbase recently announced its inclusion in the S&P 500 index, starting next week, and revealed plans to acquire the Cryptoderivated Deribit platform as part of its global expansion strategy.

    Speaking in a profit call last week, CEO Brian Armstrong said his goal is to make coinbase “the application of financial services number 1 in the world” within the next five to 10 years. Coinbase is currently operating the largest cryptocurrency in the United States.

    Share-This-Article
    Categories

    [ad_2]

    https%3A%2F%2Fcoinjournal.net%2Fes%2Fnoticias%2Fcoinbase-se-enfrenta-a-una-investigacion-de-la-sec-sobre-las-metricas-historicas-de-los-usuarios-informe%2F

    The SEC abandons research on Robinhood Crypto

    [ad_1]

    • Robinhood says that the SEC has ended the regulator of the Robinhood Crypto regulator.
    • The SEC issued a Wells notice to Robinhood Crypto in May 2024.
    • The closure of Robinhood Crypto’s investigation by the SEC occurs days after the agency closed a similar investigation against Opensa.

    The United States Stock Exchange and Securities Commission (SEC) has abandoned its research on Robinhood digital assets division. Robinhood announced through A blog post On Monday, February 24, the SEC has closed its investigation of compliance actions against the company.

    “We applaud the decision of the staff to close this investigation without any action,” said Dan Gallagher, legal director of Robinhood Markets.

    The DEC decision of ending his research on Robinhood occurs just a few days after another platform, Opensa, said the regulator was ending his investigation.

    Both Robinhood and Opensa received ‘Wells notices from the SEC in 2024. Last week, the Coinbase cryptocurrency exchange platform also announced that the regulator had agreed to dismiss the demand he had filed against the company based in the United States in 2023.

    The SEC closes Robinhood research

    In Monday’s blog publication, Robinhood said he received a communication from the SEC’s compliance division on Friday, February 21.

    The letter detailed the agency’s decision to end the investigation of Robinhood Crypto, without more measures. The Wells notice of the SEC alleged possible violations of the securities laws by the commercial platform. However, Robinhood said he had not violated any values ​​of values ​​and that he did not offer values ​​to users.

    “This research should never have opened,” Gallagher added.

    “Robinhood Crypto has always respected and will always respect federal values ​​of values ​​and never allowed values ​​transactions. As we explained to the SEC, any case against Robinhood Crypto would have failed. We appreciate the formal closure of this investigation and we are happy to see a return to the rule of law and commitment to equity in the SEC ”.

    The SEC has adopted a more cryptographic pro-innovation position since the departure of former President Gary Gensler. The appointment by President Donald Trump of pro-writing people in positions in the agency has helped this change, including the establishment of a working group on cryptocurrencies by the acting president Mark Uyeda.

    Share-This-Article
    Categories

    [ad_2]

    https%3A%2F%2Fcoinjournal.net%2Fes%2Fnoticias%2Fla-sec-abandona-la-investigacion-sobre-robinhood-crypto%2F

    Exit mobile version