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. The statement follows a New York Times report that said the U.

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.

Coinbase Global Inc. is cooperating with the US Securities and Exchange Commission on an agency probe into its previously reported user metrics, the company said Thursday.