Coinbase and marketing firm Marden-Kane recently agreed to pay a $2.25 million settlement to settle a class-action lawsuit that has been going on for years. The lawsuit alleges that Coinbase did not explicitly inform users that it was free to participate in the Dogecoin trading lottery held in June 2021. According to the settlement agreement, US users who trade at least $100 in Dogecoin during the event will receive compensation in the amount of handling fees and spreads generated by their first transactions. Data show that Coinbase received about $1.30 million in handling fee income through related transactions during the event.
The lawsuit began in 2021, with plaintiff David Suski claiming that the failure to find the free participation clause in the event caused him to trade through Coinbase even though he already held Dogecoin. The U.S. Supreme Court rejected Coinbase's request for forced arbitration last year.
Coinbase agrees to pay $225 settlement to end Dogecoin raffle lawsuit
2025-05-15 01:14:15
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