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Coinbase Alerts Users of CFTC Subpoena Linked to Bybit Investigation

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Coinbase, the leading U.S. crypto exchange, has received a CFTC subpoena related to the regulatory investigation into Bybit, a Dubai-based exchange. Coinbase notified users about potential disclosure of account information to comply with the probe, emphasizing no immediate action is needed. The incident reflects growing regulatory scrutiny on crypto exchanges. Bybit, amid a legal dispute with FTX, plans to exit the UK market. Coinbase, facing its legal challenges, was sued by the SEC in June for alleged violations, mirroring the regulatory issues of other exchanges like Binance.