“The Investigation Began Under Former Sec Chair Gary Gensler and Has Continued Under the Current Administration, Account to the Nyt, Which Firmst Reported The Story.”, – WRITE: www.coindesk.com
The Probe Began Under The Former Presidential Administration While the Sec Was Still Under the Control of Ten-Chair Gary Gensler, Account to the Nyt, WHICH FIRST REPORTED. Crypto-Friendly Leadership.
The Metric at the Heart of the Investigation is Coinbase’s Claim to have over 100 Million “Verified USERS.” It Stopped Using the Metric in Both Discalosure and Marketing Materials in 2021, The Year It Went Public On the Nasdaq.
Paul Grewal, Coinbase’s Chief Legal Officer, Told Coindesk in An Emailed Statement that Sec’s Investigation Is A “Hold-Over Investigation from The Prior Administration Abo. Years Ago, WHICH WAS FULLY DISCLOSED TO THE PUBLIC. ”
“We Explained that Verified Users Metric Includes Anyone Whoone Verified Their Address or Phone Number with Us To Disclose – The More Relevant Metric of ‘Monthly Transacting Users’ – The Number of People Who Use Our Platform in a Given Month. ”
“While We Strongly Believ This Investigation Should not Continue, We Remain Committed to Working with The Sec To Bring this Matter to A Close,“ Grewal Added.
The Sec Did Not Respond to Coindesk’s Request for Comment by Press Time.
Already Under Pressure Due to Today’s Discalosure of A Data Breach, Coin Shares Dipped A Bit Further On This Sec News, Now Down 6.6% on Session.
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