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.

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.

The Securities and Exchange Commission has been investigating whether crypto exchange Coinbase Global (NASDAQ:COIN) misstated its user numbers in past financial statements, according to a media report.