Saudi Press

Saudi Arabia and the world
Thursday, Apr 02, 2026

SEC Probes Coinbase on Staking, Asset Classification, Stablecoin Products

SEC Probes Coinbase on Staking, Asset Classification, Stablecoin Products

Coinbase said the SEC’s requests have to do with the company’s staking programs, asset listing process, classification of assets and stablecoin products.
Coinbase has said it’s being probed by the U.S. Securities and Exchange Commission (SEC) for its staking programs, which lets users earn rewards by holding some cryptocurrencies, according to a filing this week.

The company said it has received some investigative subpoenas and requests from the SEC for documents and information about some customer programs and plans for future products. The requests have to do with the company’s staking programs, asset listing process, classification of assets and stablecoin products.

The company said it doesn’t think these things will negatively affect its profits, though it said there could be some adverse effects later on.

Staking services let users get yield on some crypto holdings, delegating them to help verify transactions and keep the blockchain secure, while trading is down due to market downturns.

In a shareholder letter on Tuesday (Aug. 9), Coinbase says the SEC sent a voluntary request for information in May about its listings and listings process. But the company reportedly didn’t know yet if it would be a bigger investigation.

Coinbase has seen some scrutiny by the SEC as it may have made unregistered securities available for trading, according to Bloomberg.

The company’s earnings came primarily from trading fees, with investors getting out while prices collapses and companies shut their doors.

This resulted in a 64% drop in net revenue, now hitting $803 million, which was twice what analysts had expected.

And monthly transacting users fell to 8 million — a trend which Coinbase thinks will keep going in the third quarter.

Coinbase has painted this as just a part of the cycle, with companies going through up and down cycles before. But CEO Brian Armstrong said that this was the first down cycle after the company went public, so he’s still working out how to explain how crypto up and down cycles work to investors.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Trump Engages Saudi Crown Prince in Talks on Potential Iran Ceasefire
Saudi Arabia’s Sadara Suspends Operations as Supply Chain Disruptions Intensify
Saudi Arabia Accelerates Energy Shift by Trading Oil Revenues for Battery Investments
Saudi Arabia Introduces Flexible Options for Expired Visas Amid Regional Disruptions
Online Narratives Surge as Iran–US Tensions Spill Into Digital Arena Following Trump Remarks
Saudi Arabia Urges Trump to Seize Strategic Moment as UAE Weighs Ground Deployment
Saudi Arabia Redirects Nearly One Million Barrels of Oil Daily Away from Strait of Hormuz
Saudi Arabia Carries Out Execution of Businessman Linked to 2011 Qatif Unrest
Ukraine–Saudi Defense Pact Signals Rising Demand for Battlefield Expertise
Saudi Arabia Balances Diplomacy and Defense Preparedness Amid Iran Conflict
Iran Conflict Reshapes Strategic Calculations in U.S.-Saudi Relations
Saudi Arabia Voices Caution as Trump’s Assertive War Strategy Reshapes Regional Dynamics
Saudi Arabia Updates Travel Advisory as Regional Conflict Intensifies
Saudi Arabia’s Sadara Suspends Petrochemical Production as Conflict Disrupts Operations
Iran Urges Saudi Arabia to Remove US Forces Amid Escalating Regional Tensions
Gulf Allies Urge Trump to Sustain Campaign Until Iran Is Fully Defeated
Saudi Arabia Unveils Strategic Rail Freight Corridors Connecting Gulf Ports to Jordan
Saudi Arabia Intercepts Drones and Ballistic Missiles in Major Defensive Operation
Houthi Escalation Opens New Front in Expanding Iran-Linked Conflict
Major Saudi Chemical Plant Halts Operations Amid Regional Conflict Disruptions
Strike on US Radar Aircraft in Saudi Arabia Signals Escalating Threat Capabilities
US Citizens in Saudi Arabia Advised to Shelter Indoors Amid Rising Regional Tensions
How Britain’s Prime Minister Controls U.S. Bomber Access in Escalating Iran Conflict
Saudi Arabia Urges Trump to Lead Strategic Reset in Middle East as UAE Weighs Ground Role
Reed Smith Expands Saudi Presence with Senior Corporate Appointments
Trump Announces Approval of F-35 Fighter Jet Sale to Saudi Arabia
BBC Faces Scrutiny Over Allegations of Paid Content Linked to Saudi Arabia
Ukraine Secures Defense Agreements with Qatar and Saudi Arabia as UAE Talks Advance
Oil Prices Surge as Saudi Arabia Adjusts Supply Amid Escalating Iran Tensions
Saudi Arabia Condemns Attacks on Kurdistan Leaders and Reaffirms Backing for Iraq’s Stability
Saudi Arabia Weighs Strategic Interests as Iran Conflict Raises Regional Stakes
Severe Thunderstorms Sweep Across UAE and Saudi Arabia Bringing Heavy Rainfall
Trump’s Strategic Alignment with Saudi Arabia Reflects Expanding Economic and Diplomatic Synergy
Saudi Arabia Strongly Condemns Attacks on Presidential Residences in Hawler
Saudi Stocks Edge Lower as Tadawul Index Closes Slightly Down
Houthis Enter Expanding Iran Conflict as US Deploys Additional Troops
Iran Seeks Assurances for Regional Allies as Saudi Arabia Presses for Firm Security Guarantees
Iranian Strike Reportedly Destroys $270 Million US E-3 Sentry Aircraft at Saudi Air Base
Iranian Strike on Saudi Base Leaves Ten American Personnel Injured
Ukraine Claims Russia Shared Satellite Intelligence with Iran Ahead of Saudi Base Strike
Pakistan Engages Regional Powers in Diplomatic Talks Over Iran Conflict
Escalating Iran Conflict Brings Renewed Focus to US Military Presence in Saudi Arabia
Iranian Strike Targets Saudi Airbase, Damaging Key US Military Assets
Modi and Saudi Crown Prince Emphasise Secure Shipping Routes in Talks on West Asia Conflict
Dallas-Based Company Secures One Billion Dollar Hotel Development Deal in Saudi Arabia
Zelensky Secures Defence Cooperation Deals with Gulf States During Strategic Regional Tour
Trump Calls on Saudi Arabia to Join Abraham Accords in Push for Expanded Middle East Cooperation
Trump Balances Humor and Praise in Remarks on Saudi Crown Prince
Saudi Arabia’s Strategic Pipeline Reaches Seven Million Barrel Capacity to Bypass Hormuz
Rubio Signals U.S. Could Conclude Iran Conflict Within Weeks as Air Campaign Intensifies
×