The investigation began under former SEC Chair Gary Gensler and has continued under the current administration, according to the NYT, which first reported the story.

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 Confirms Long-Running SEC Probe Into User Verification Still Active despite the end of its securities lawsuit with the agency