Analyst: Cyber attacks and investigations by the US Securities and Exchange Commission will not have a significant impact on Coinbase.

Benchmark's senior stock research analyst Palmer stated in a research report that Coinbase disclosed a major network security vulnerability on Thursday and confirmed that the U.S. Securities and Exchange Commission is investigating its past user metrics. This contrasts sharply with the news earlier this week that the company would be added to the S&P 500 index. Palmer assumes that this cyber attack is more of a one-off event, and the SEC investigation is "just noise and unlikely to have any substantial impact on any bullish arguments for the company's stock."