{"id":308274,"date":"2024-05-23T22:06:16","date_gmt":"2024-05-23T16:36:16","guid":{"rendered":"https:\/\/dripp.zone\/news\/coinbase-loses-supreme-court-case-over-dogecoin-dispute-crypto-news\/"},"modified":"2024-05-23T22:09:59","modified_gmt":"2024-05-23T16:39:59","slug":"coinbase-loses-supreme-court-case-over-dogecoin-dispute-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/coinbase-loses-supreme-court-case-over-dogecoin-dispute-crypto-news\/","title":{"rendered":"Coinbase Loses Supreme Court Case Over Dogecoin Dispute – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

In a landmark decision on May 23, the U.S. Supreme Court has ruled against crypto exchange Coinbase<\/a> regarding a dispute related to the $1.2 million Dogecoin sweepstakes in 2021. The Supreme Court stated that a California court had correctly used its authority to resolve whether Coinbase can force users into arbitration.<\/p>\n

Supreme Court Handles Coinbase A Loss<\/h2>\n

In a ruling on May 23 by Justice Ketanji Brown Jackson, the SC said a court, not the arbitrator, decides which contract applies in arbitration. The Supreme Court also dismissed a warning by the crypto exchange that a ruling against it would invite legal turmoil, reported Bloomberg Law<\/a>.<\/p>\n

<\/p>\n

The opinion in Coinbase v. Suski<\/a> emphasized that arbitration is a matter of \u201ccontract and consent\u201d and when there are disputes related to competing contracts a court should decide primary agreements between the parties.<\/p>\n

<\/p>\n

\u201cWe conclude that a court, not an arbitrator, must decide whether the parties\u2019 first agreement was superseded by their second. The Ninth Circuit\u2019s judgment is affirmed,\u201d the court stated.<\/p>\n

Coinbase users argued they were forced to pay $100 to enter a giveaway related to Dogecoin in 2021. Suski alleged that the marketing company hired by Coinbase to run the sweepstakes used \u201cfalse and misleading\u201d tactics to disguise the free-entry option.<\/p>\n

<\/p>\n

\n

ICYMI \u2026 you asked we listed. <\/p>\n

DOGE is now on Coinbase and we\u2019re giving away $1.2 million in DOGE to celebrate. Opt in and then buy or sell $100 in DOGE by 06\/10\/2021 for your chance to win. Limit one entry per person. #DogeOnCoinbase<\/a><\/p>\n

Details here \ud83d\udc49 https:\/\/t.co\/St2UbtAFSm<\/a> pic.twitter.com\/t0izkby4rx<\/a><\/p>\n

\u2014 Coinbase \ud83d\udee1\ufe0f (@coinbase) June 7, 2021<\/a><\/p>\n<\/blockquote>\n

Dogecoin Market Performance<\/h2>\n

<\/p>\n

Dogecoin saw a nearly 200% rally this year amid the meme coin frenzy that saw massive buying of meme coins by whales and small investors. DOGE hit a 52-week high of $0.22 in March.<\/p>\n

DOGE price<\/a> has fell 5% in the past 24 hours paring gains recorded this week, with the price currently trading at $0.159. The 24-hour low and high are $0.157 and $0.169, respectively. Furthermore, the trading volume has decreased by 21% in the last 24 hours, indicating a decline in interest among traders.
Also Read:<\/strong><\/p>\n

<\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n <\/p>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<\/p>\n

\n
\n
\n
\n
\n<\/p>\n

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

\n \"\"