Coinbase has been in touch with the S.E.C. over the course of this year, two people familiar with the inquiry said, and has hired the law firm Davis Polk & Wardwell to assist with its response.

U.S. banking giant JPMorgan partnered with Coinbase on Wednesday to allow customers to fund their wallets using its Chase credit cards and buy cryptocurrency on the exchange starting in fall 2025.

Coinbase is the largest crypto exchange in the U.S. that is worth more than $60 billion. At press time, the COIN stock was trading at $246.39, down 6.43% since the last day's close.

Stock in Coinbase (COIN), the largest U.S.-based cryptocurrency exchange, fell more than 8% Thursday on news it was the victim of a cyberattack, in which hackers successfully bribed overseas ...