Tag: users

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

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  • 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.

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    Pi Network token collapses 77% from its peak, even when Pifest attracts 1.8 million users

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    • 4.9 billion tokens are already in circulation.
    • Pifest 2025 had 1.8 million users from 58,000 merchants.
    • Technical data indicates a greater fall, with the RSI below 20.

    The token of Pi Network, Pi, is on a marked descending trajectory, losing more than three quarters of its value since its February peak.

    Despite the efforts to boost adoption, including the high -profile Pifest 2025, technical indicators and tokens unlocks are increasing the pressure on cryptocurrency.

    As the market in general increases, with Bitcoin quoting above the $ 84,000 and Ethereum keeping above $ 1,820, the pronounced PI drops distinguishes it for all the wrong reasons.

    With more than 126.6 million tokens unlocked only this month, the problem of excess supply continues to weigh a lot in feeling and prices.

    Pifest increases use, but the price drops

    The recent impulse of Pi Network to encourage adoption in the real world culminated in Pifest 2025.

    The event attracted the participation of more than 125,000 vendors and 58,000 merchants, who collectively allowed more than 1.8 million pioneers to use PI for daily transactions.

    These included from Cafés and Boutiques from Cafes and Boutiques to Payments in Independent Cars and Services Workshops.

    Despite the large scale and the useful usefulness demonstrated during the event, PI failed to register a positive prices reaction.

    The Token, on the other hand, continued his free fall and now quotes at $ 0.5483.

    This is a decrease of more than 25% only in the last week.

    Since its historical maximum of $ 2.98 earlier this year, PI has now lost 77 percent of its value, which raises serious doubts about the effectiveness of the Pi Network adoption strategy.

    Fountain: Coinmarketcap

    126 million tokens unlocked in March

    The price drop is aligned with the monthly unlocks of Pi Network tokens, which are releasing new tokens to the market at a much faster rate than demand can absorb.

    There are already more than 4.9 billion tokens Pi in circulation and this month 126.6 million more will be unlock.

    On average, the network has been releasing 133 million tokens every month, and another 1,540 million tokens will be unlocked during the next year.

    This increase in supply, without a corresponding increase in the purchase pressure or liquidity, is cited as the main reason behind the persistent bearish tendency of the Token.

    Technical indicators support this perspective. PI currently quote below its exponential mobile (EMA) average of 20 periods, a bearish indicator, and the relative force index (RSI) has fallen below 20, entering over -sales territory.

    Analysts point out that, although the RSI can indicate overall, there are still no strong signs of a reversal.

    The triangle pattern indicates a greater fall

    From a technical perspective, the Pi price movement follows a descending triangle formation, a pattern often linked to a continuous bearish impulse.

    Unless there is a clear breakdown of this employer, analysts believe that PI could soon fall below $ 0.50 if the current sales pressure continues.

    If a recovery occurs, the Token could reach the USD 1.53 again, but such a movement would require a significant change in demand and feeling.

    The bullish conditions of the cryptocurrency market in general only highlight the low performance of Pi.

    While other assets benefit from institutional interest and high liquidity, PI continues to have difficulties with bags in bags and generalized skepticism.

    The history and reputation of the project raise challenges

    Pi Network launched in 2019 with a mining model based on references and mobile devices.

    It remained largely non -transferable until the launch of the main network, after which it obtained lists in bags such as Bitget, OKX and Mexc.

    However, concerns persist about their long -term viability.

    The project still faces criticism due to lack of liquidity, unclear cases beyond events such as Pifest and resistance of the main platforms.

    An important Exchange, Bybit, has openly refused to include Token.

    This position has further limited the exposure and liquidity of the Token in a competitive market where visibility and merchandability are essential for success.

    Despite the recent promotion efforts, the future of Pi Network remains uncertain.

    Market observers believe that, unless the tokens unlock schedule is reviewed or that the real demand of users reaches the supply, it is unlikely that the bearish trend is reversed.

    For now, the growing number of tokens in circulation and the lack of support from the exchanges continue to exceed the initiatives promoted by the network community.

    The post The Network token collapses 77% from its peak, even when Pifest attracts 1.8 million users Appeared First on coinjournal.

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