Coinbase Stock Price Decline Widens to 8.11%

BlockBeats News, May 16, Coinbase's stock price fell further to 8.11%.

Prior market reports indicated that hackers have been able to access Coinbase customer data since January this year, with data breaches expected to result in losses of up to $400 million.

Meanwhile, according to four sources familiar with the matter, the U.S. SEC is investigating whether Coinbase has overstated its user numbers in past disclosure filings—a probe initiated during the Biden administration that is still ongoing from the Trump era. The previously undisclosed inquiry focuses on Coinbase's claims in securities filings and promotional materials of having over 100 million "verified users."