Analyst: US SEC Investigation and Cyberattack Will Not Have a Material Impact on Coinbase

BlockBeats News, May 16th, Benchmark senior stock research analyst Palmer stated in a research report that Coinbase disclosed a major cybersecurity vulnerability on Thursday and confirmed that the U.S. Securities and Exchange Commission (SEC) is investigating its past user metrics. This is in stark contrast to the news earlier this week that the company would be joining the S&P 500 Index.

Palmer assumed that this network attack was more of a one-time event, and the U.S. Securities and Exchange Commission's investigation "is just noise and is unlikely to have any substantive impact on any bullish argument for the company's stock." (Golden Finance)