Analyst: The SEC investigation and cyber attacks will not have a material impact on Coinbase

ChainCatcher news, according to Jin10, Benchmark senior equity research analyst Palmer stated in a research report that Coinbase disclosed a significant cybersecurity breach on Thursday and confirmed that the U.S. Securities and Exchange Commission (SEC) is investigating its past user metrics. This contrasts sharply with the news earlier this week that the company would be joining the S&P 500 index.

Palmer believes that this cyber attack is more of a one-time event, and the SEC's investigation "is just noise and is unlikely to have any substantial impact on the bullish thesis for the company's stock."