According to a New York Times report, the U.S. Securities and Exchange Commission (SEC) is investigating whether the Coinbase (Nasdaq: COIN) crypto exchange overstated its user numbers in past filings and public statements.

The SEC declined to comment on the investigation, but Coinbase told Barron’s in an email, “this is a hold-over investigation from the prior administration about a metric we st

The investigation began under former SEC Chair Gary Gensler and has continued under the current administration, according to the NYT, which first reported the story.