Coinbase

Coinbase Faces fresh Legal Challenges Amid Ongoing Regulatory Scrutiny

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San Francisco, California — Cryptocurrency exchange Coinbase is facing mounting legal pressures as it has become the target of a new lawsuit filed by the New Jersey Division of Consumer Affairs. This legal action accuses the company of violating state regulations by offering unregistered securities. The New Jersey regulators assert that Coinbase has engaged in deceptive practices, jeopardizing consumers and providing an unfair advantage over competitors who adhere to state laws. The lawsuit claims that certain digital assets listed on the platform fall under the realm of securities, thereby requiring registration and disclosure obligations that … Read more

Coinbase Settles $2.25 Million Lawsuit After Controversial Dogecoin Sweepstakes Mishap

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San Francisco, California — In a significant resolution to a protracted legal battle, Coinbase has agreed to a $2.25 million settlement regarding allegations tied to its cryptocurrency sweepstakes. The settlement comes after nearly four years of litigation, including a review by the United States Supreme Court. The lawsuit, known as Suski v. Coinbase, Inc., hinged on claims that the cryptocurrency exchange misled participants in its Dogecoin promotion. Launched in June 2021, the sweepstakes aimed to boost trading volume by offering a top prize of $300,000. However, plaintiffs alleged they were required to purchase or sell … Read more

Oregon Attorney General Sues Coinbase, Claims XRP Among Other Cryptos Are Unregistered Securities

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Salem, Oregon – In a significant move signaling increased state-level scrutiny of cryptocurrency operations, Oregon’s Attorney General Dan Rayfield has initiated a lawsuit against the major crypto exchange Coinbase, alleging that the platform has been trading digital assets that are effectively unregistered securities. This lawsuit was filed over concerns that such practices violate Oregon’s securities laws. The legal action highlights a proactive stance taken by state authorities amid what is perceived as a lessened federal focus during the previous administration. The Oregon Department of Justice, announcing the lawsuit on April 18, indicated it as a … Read more

Coinbase Faces $1 Billion Lawsuit Over Alleged Market Sabotage and Anti-Competitive Practices in Crypto Sector

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Hong Kong-based company BiT Global Digital Limited is suing Coinbase, a leading cryptocurrency exchange, for more than $1 billion. Filed on December 13, 2024, the lawsuit charges Coinbase with anti-competitive actions following its decision to delist Wrapped Bitcoin (wBTC), favoring its newly launched product, cbBTC. BiT Global claims that Coinbase’s decision to remove wBTC from its platform on November 19 was strategically timed to benefit its own product, raising serious concerns about fair market practices. Despite Coinbase stating that the delisting was due to wBTC not meeting its listing criteria, BiT Global highlighted discrepancies in … Read more