Coinbase（Coin）股票在公司闡明SEC的詢問與停產的用戶金屬有關之後，股票躍升9.3％

區塊鏈基礎設施公司Coinbase（NASDAQ：COIN）的股票在下午會議上躍升了9.3％，此前該公司澄清說，SEC的詢問與停產的用戶量表有關，上次報告了兩年半以上。

Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) jumped 9.3% in the afternoon session after the company clarified that the SEC's inquiry was related to a discontinued user-metric last reported more than two and a half years ago.

區塊鏈基礎設施公司Coinbase（NASDAQ：COIN）的股票在下午會議上躍升了9.3％，此前該公司澄清說，SEC的詢問與停產的用戶量表有關，上次報告了兩年半以上。

This follows a report by Bloomberg, which stated that the SEC is investigating whether Coinbase had improperly collected and used user data to calculate and disclose a metric called "monthly transacting users." The report also mentioned that the probe could be linked to a prior administration inquiry.

這是彭博社的一份報告，該報告指出，SEC正在研究Coinbase是否已收集不當並使用用戶數據來計算和披露稱為“每月交易用戶”的度量。該報告還提到該探測器可以與事先的政府調查有關。

Coinbase's Chief Legal Officer, Paul Grewal, confirmed in a blog post that the inquiry had been reported previously and that the metric was discontinued in the first quarter of 2021. He added that the company had made full and complete disclosures about the metric in its periodic and current reports filed with the SEC.

Coinbase的首席法律官Paul Grewal在博客文章中證實，該詢問之前已有報導，該指標在2021年第一季度中止了。他補充說，該公司已在其定期和現有向SEC提交的定期報告中對該指標進行了充分而完整的披露。

"This 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," Grewal said. "The SEC inquiry is limited in scope and relates to a metric we used to report on the number of users who transacted on the Coinbase platform at least once in a given month, which we disclosed in a section of our earnings releases titled 'Key User Metrics.'"

格雷瓦爾說：“這是先前政府的一項關於我們停止報告兩年半前報告的指標的持有調查，該指標已被完全披露給公眾。” “ SEC查詢的範圍有限，並且與我們用來報告在Coinbase平台上至少在給定月份進行交易的用戶數量有關的指標，我們在我們的收益發布的一部分中披露了標題為“主要用戶指標”的部分。”

Some analysts stayed positive despite the negative news, particularly in light of a cybersecurity breach disclosed the previous day. Oppenheimer analyst Owen Lau reaffirmed a Buy rating, saying the stock's negative reaction to the news was an opportunity for investors to accumulate more shares.

儘管有負面消息，但一些分析師仍然保持積極狀態，尤其是鑑於前一天的網絡安全漏洞揭示了。 Oppenheimer分析師Owen Lau重申了買入評級，稱該股票對新聞的負面反應是投資者積累更多股份的機會。

"We remain optimistic on COIN’s long-term potential in the rapidly growing digital asset ecosystem and believe the company will continue to play a key role in shaping the future of finance," Lau stated.

勞說：“我們對硬幣在快速增長的數字資產生態系統中的長期潛力保持樂觀，並認為該公司將繼續在塑造金融的未來方面發揮關鍵作用。”

While he thought the expected remediation cost of $180-$400M was high, he believed COIN intended to send a message that customers' funds were safe, and they would take full responsibility.

儘管他認為預期的補救成本為180-4億美元，但他認為硬幣旨在發送一條消息，說客戶的資金是安全的，他們將承擔全部責任。

Is now the time to buy Coinbase? Get access to our full analysis report here, it’s free.

現在是時候購買Coinbase了嗎？在此處獲取我們的完整分析報告，它是免費的。

What The Market Is Telling Us

市場告訴我們什麼

Coinbase's shares are extremely volatile, and they've already had 66 price changes of 5% or more over the past year. In this context, today's move suggests that the market considers this news to be meaningful but not something that would fundamentally alter its perception of the business.

Coinbase的股票非常波動，在過去的一年中，它們的價格變化為5％或更多。在這種情況下，今天的舉動表明，市場認為這一消息是有意義的，但不是從根本上改變其對業務的看法的東西。

The previous big move we wrote about was 1 day ago when the stock dropped 5% on the news that the company announced receiving emails from hackers who claimed to have breached user accounts, gained access to customer data, discovered internal documents, and took notes tied to help desk tools and account management systems.

我們寫的前一步是1天前，當時該公司宣布收到來自黑客的電子郵件，這些股票聲稱違反了用戶帳戶，訪問了客戶數據，發現了內部文檔，並記下了與幫助辦公桌工具和帳戶管理系統有關的筆記。

Coinbase maintained that it would not pay the $20M ransom demanded by the attackers and instead offered a $20M reward for information leading to their arrest and conviction. It also clarified that the breach affected less than 1% of Monthly Transacting Users (reported at 9.7M as of 1Q25).

Coinbase堅持認為，這不會支付襲擊者要求的2000萬美元贖金，而是為導致其逮捕和定罪的信息提供了2000萬美元的獎勵。它還澄清說，違規行為不到每月交易用戶不到1％（截至225年第1季度為970萬）。

In a regulatory filing, Coinbase estimated the total cost of the incident, including efforts to address the breach and reimburse affected customers, could range from $180 million to $400 million.

在監管文件中，Coinbase估計事件的總成本，包括解決違規行為和報銷受影響客戶的努力，範圍從1.8億美元到4億美元不等。

The stock's reaction suggested that the market was worried about the material short-term financial headwind the incident could create. However, the limited scope (affecting less than 1% of Monthly Transacting Users) of the incident and the containment measures could dampen some of these concerns.

該股票的反應表明，市場擔心事件可能會產生的短期財務逆風。但是，事件的有限範圍（影響每月交易用戶的1％）和遏制措施可能會削弱其中一些問題。

Coinbase is up 3.8% since the beginning of the year, but at $267.09 per share, it is still trading 22.3% below its 52-week high of $343.62 from December 2024. Investors who bought $1,000 worth of Coinbase’s shares at the IPO in April 2021 would now be looking at an investment worth $813.60.

自今年年初以來，Coinbase上漲了3.8％，但每股267.09美元，它的交易仍低於2024年12月的52周高點343.62美元。投資者在2021年4月在IPO上購買了價值1,000美元的Coinbase股票，現在將尋找價值813.60美元的投資者。

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