The SEC has been investigating crypto exchange Coinbase (COIN) over whether it misstated its user numbers in past securities filings and marketing materials.

The probe began under the former presidential administration while the SEC was still under the control of then-Chair Gary Gensler, according to the NYT, which first reported the story, but has persisted under the SEC’s current, crypto-friendly leadership.

The metric at the heart of the investigation is Coinbase’s claim to have over 100 million “verified users.” It stopped using the metric in both disclosure and marketing materials in 2021, the year it went public on the Nasdaq.

Paul Grewal, Coinbase’s chief legal officer, told CoinDesk in an emailed statement that the SEC’s investigation is a “hold-over investigation from the prior administration about a metric we stopped reporting two and a half years ago, which was fully disclosed to the public.”

“We explained that the verified users metric includes anyone who verified their email address or phone number with us, so it may overstate the number of unique customers,» said Grewal «We also disclosed – and continue to disclose – the more relevant metric of ‘monthly transacting users’ – the number of people who use our platform in a given month.»

“While we strongly believe this investigation should not continue, we remain committed to working with the SEC to bring this matter to a close,” Grewal added.

The SEC did not respond to CoinDesk’s request for comment by press time.

Already under pressure due to today’s disclosure of a data breach, COIN shares dipped a bit further on this SEC news, now down 6.6% on the session.

TORONTO —Eric Trump, the son of U.S. President Donald Trump, said he believes bitcoin is digital gold and called the largest digital currency a store of value, during a packed panel at Consensus 2025 in Toronto.

«I really believe in digital gold, which is bitcoin, right? I believe in the store of value,» Trump said.

However, Eric Trump — who has a background in real estate — told the crowd at CoinDesk’s Consensus 2025 conference in Toronto that he didn’t get into bitcoin or crypto until politics intertwined the Trump family and the crypto community.

«It wasn’t until the very same group that was attacking my family for no reason whatsoever other than political beliefs, started attacking [the] crypto community that it really drove two people who might not have always been like-minded together and that partnership has been absolutely amazing,» he said Thursday.

Aside from politics, he also realized real estate is not as liquid as bitcoin, which has better liquidity and was easier to transact, solidifying his belief in the digital currency. «I also realized, kind of, through some of that political weaponization, you know, some of the limitations of real estate. Real estate has created tremendous wealth for our family. At the same time, real estate can’t be transferred. It’s very hard to sell,» he said.

«I sold a hotel two years ago. It took me a year and a half to literally transact that hotel because you have title reports and you have managers that have to go in, and you have best proliferations. You do all sorts of things,» Trump said. «… You constantly have to manage it. You constantly have to watch operations, right? And then all of a sudden, you’ve got this kind of digital asset which you don’t need to watch, you don’t need to manage. You know, it’s easy to transact on.»

Trump is the co-founder and chief strategy officer of American Bitcoin, a Bitcoin mining firm founded in partnership with Hut 8 and slated to go public via a merger with Gryphon Digital Mining (GRYP).

The Gryphon partnership came about from a desire to take the American Bitcoin partnership public as quickly as possible, said Hut 8 CEO Asher Genoot on stage alongside Trump to a standing-room only crowd. An existing mining business was a key part of that plan as well as getting ‘American’ and ‘bitcoin’ as part of the company name.

«American Bitcoin, to me, is everything, you know. And I we came up with the name, I said one thing. I said, Listen, it has to have the word American, and it has to have the word Bitcoin in it,» Trump said.

The cryptocurrency market is experiencing significant fluctuations as global economic factors and regulatory developments create both challenges and opportunities. Litecoin’s recent price action reflects this broader market sentiment, with the cryptocurrency encountering strong resistance at $101.65 after reaching a peak of $101.90. Despite the subsequent correction to the $95-$96 range, LTC has shown resilience with support emerging around $95.82.

Market analysts point to the recent US-China tariff agreement as a key driver behind Litecoin’s price movements, with the cryptocurrency gaining bullish momentum following the deal announcement. Additionally, Federal Reserve policy decisions have contributed to positive sentiment in risk assets, helping LTC maintain its position above critical support levels despite the correction.

In the regulatory landscape, the SEC has delayed decisions on spot ETF applications for several cryptocurrencies including Litecoin, creating uncertainty but also anticipation. Despite these delays, betting markets show ~80% probability for approval before year-end, suggesting continued optimism among investors. This regulatory environment, combined with increasing institutional adoption and cross-border transaction utility, positions Litecoin as a significant player in the evolving cryptocurrency ecosystem.

Technical Analysis Highlights

• Litecoin fell from a high of $101.90 to a low of $95.73, representing a 6.05% decline over 24 hours.
• Strong resistance established at $101.65 level where price repeatedly failed to break through.
• Support emerged around $95.82 with substantial buying volume (304,377 units).
• Potential double bottom formation identified near the lows.
• Trading range of $5.87 (5.76%) indicates heightened volatility.
• Price currently consolidating near $96.94, suggesting possible stabilization.
• Remains vulnerable to further downside pressure if $96.24 support fails.

This technical analysis was conducted according to CoinDesk s research model analysing CoinDesk Data

Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.

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