Coinbase Subpoenaed by CFTC for User Data in Bybit Investigation
• Coinbase received a subpoena from the CFTC regarding the exchange Bybit as part of an ongoing legal case • The subpoena seeks information on Coinbase users' accounts and transactions related to Bybit • Coinbase emailed impacted users about the subpoena, saying no action is required but their data may be sent to the CFTC • The subpoena aims to determine if Bybit had US users, which could lead to further regulatory action • Coinbase sees the recent Binance settlement as an opportunity for the crypto industry to "turn the page" and usher in more regulatory clarity