Supreme Court Rules Against Coinbase in Dogecoin Sweepstakes Case
The unanimous decision mandates court resolution over arbitration, impacting Coinbase's legal strategy but not broader crypto regulations.
- Coinbase lost a Supreme Court case concerning a 2021 Dogecoin sweepstakes promotion.
- The ruling determined that courts, not arbitrators, should decide the dispute's forum.
- Coinbase's stock dropped over 3.5% following the decision.
- The case centered on whether customers were misled into spending $100 to enter the sweepstakes.
- This decision adds to Coinbase's mixed legal record at the Supreme Court.
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