Analyst: Cyberattacks and SEC investigation will not have a substantial impact on Coinbase

Palmer, Senior Equity Research Analyst at Benchmark, stated in a research report that Coinbase disclosed a significant cybersecurity vulnerability on Thursday and confirmed that the US Securities and Exchange Commission is investigating its past user metrics. This is in stark contrast to the news earlier this week that the company will join the S&P 500 index. Pal's default view is that this cyber attack is more of a one-time event, and the investigation by the US Securities and Exchange Commission is "just noise and unlikely to have any substantial impact on any driving factors of the company's stock bullish argument