According to a New York Times report, the U.S. Securities and Exchange Commission (SEC) is investigating whether the Coinbase (Nasdaq: COIN) crypto exchange overstated its user numbers in past filings and public statements.

The SEC declined to comment on the investigation, but Coinbase told Barron’s in an email, “this is a hold-over investigation from the prior administration about a metric we st

Coinbase said on Thursday it strongly believes a regulatory investigation by the U.S. securities regulator into its disclosures of monthly transacting users should not continue.