Bloomberg Businessweek

Coinbase Cooperating With SEC on Users Metric as News of Hack Emerges

May 15, 2025
Dana Telsey, CEO of Telsey Advisory Group, discusses the impact of rising retail costs and ethical dilemmas faced by major retailers, while Jamie Tarabay, a national security reporter, shares insights from her experiences in Baghdad and the importance of media integrity amid global issues. Tim Herbert, CEO of Inspire Medical Systems, highlights innovations in sleep apnea treatment, stressing the significance of transparency and new technologies in patient care. The conversation weaves through the challenges in the crypto market linked to Coinbase's recent security breaches and regulatory scrutiny.
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INSIGHT

SEC Probes Coinbase User Metrics

  • The SEC continues to investigate Coinbase's past user metrics despite industry hopes for regulatory leniency.
  • The investigation centers on whether Coinbase overstated its "verified users" figure, a standard SEC concern about disclosure accuracy.
INSIGHT

Coinbase Hack Reveals Insider Risks

  • Hackers bribed Coinbase customer representatives to access sensitive user data, posing major security risks.
  • This breach highlights the ongoing vulnerability of crypto firms to sophisticated internal and external cyberattacks.
INSIGHT

S&P 500 Inclusion Signals Crypto's Evolution

  • Coinbase's inclusion in the S&P 500 symbolizes crypto's institutional acceptance while underscoring regulatory and security challenges.
  • Events like the SEC probe and hack remind the market that crypto innovation carries inherent risks.
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