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Coinbase Asks Supreme Court to Halt Account-Holder Suits

  • Lower court rejected forced arbitration in user agreements
  • Coinbase wants to stay trial court proceedings during appeal
Updated on

Coinbase Global Inc. asked the US Supreme Court to halt two lawsuits by users of the cryptocurrency exchange platform while the company presses appeals that seek to send the cases to arbitration.

In one case, a man says Coinbase should compensate him for $31,000 he lost after he gave remote access to his account to a scammer. In the other, Coinbase is accused of violating California consumer law by holding a $1.2 million Dogecoin sweepstakes without adequately disclosing that entrants didn’t have to buy or sell the cryptocurrency. Both suits seek class action status.