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Coinbase Exchange Faces SEC Probe Over Crypto Yield, Staking Products
The company told investors it has received "investigative subpoenas" from the Securities and Exchange Commission.
By Danny Nelson
Updated May 11, 2023, 4:40 p.m. Published Aug 10, 2022, 9:12 p.m.
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Publicly traded crypto exchange Coinbase Global (COIN) is under investigation by U.S. securities regulators over its token listing processes as well as its staking programs and yield-generating products, the company disclosed in its most recent quarterly report.
"The Company has received investigative subpoenas and requests from the [U.S. Securities and Exchange Commission] for documents and information about certain customer programs, operations, and existing and intended future products, including the Company’s processes for listing assets, the classification of certain listed assets, its staking programs, and its stablecoin and yield-generating products," Coinbase said in the 10-Q form.
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The disclosure underscores the heat Coinbase faces as a vocal (and closely regulated) U.S. crypto business. It is under pressure on multiple fronts, including its belief that certain tokens are not securities and therefore exempt from the SEC's purview. The SEC has taken a different stance in its ongoing case against an ex-Coinbase employee accused of insider trading.
Still, Coinbase said in the filing it believes these investigations will not "have a material adverse effect" on Coinbase's financial condition.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Australia's corporate regulator flags risks from rapid innovation in digital assets
The Australian Securities and Investments Commission has flagged digital assets and AI risks in its annual report.
What to know:
- Australia's corporate regulator, ASIC, warns that rapid growth in unlicensed crypto, payments and artificial intelligence firms has created regulatory gaps that expose consumers to risk.
- In its new "Key issues outlook 2026" report, ASIC says it is up to the government to decide whether emerging digital asset products and services should fall under existing regulatory frameworks.
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