Coinbase shares drop again as investigation looms over the crypto exchange

Shares for Coinbase, the US biggest cryptocurrency exchange, dropped by a staggering 21 per cent on Wednesday as the company is reportedly facing an investigation into whether it improperly let Americans trade digital assets that should have been registered as securities. Bloomberg originally reported the story and o wrote on Monday that three people familiar with the matter spoke about an investigation into Coinbase’s practices by the US Security and Exchange Commission (SEC). The SEC has not yet confirmed the existence – “or nonexistence” – of the investigation. Coinbase said it is confident…