Coinbase Settles $2.25M Dogecoin Sweepstakes Lawsuit


#Coinbase and marketing firm Marden-Kane have agreed to pay $2.25 million to settle a class action lawsuit over a 2021 #Dogecoin sweepstakes.


The settlement will compensate U.S. users who traded $100 worth of $DOGE during the promotion in June 2021.


Plaintiff David Suski claimed the exchange obscured the fact that the sweepstakes was free to enter without requiring purchases.

Coinbase collected approximately $1.3 million from transaction fees during the promotional period.


Each settlement class member will receive compensation for fees charged on their initial #Dogecoin trades.


The meme coin currently trades at $0.23, significantly below its $0.39 price when the promotion launched.

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May 14, 2025 at 10:05 PM
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