Coinbase Cuts Losses—$1.2M Dogecoin Sweepstakes Lawsuit Settled After 2-Year Battle

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2025-05-14 19:02:17

Coinbase Finally Settles Dogecoin Sweepstakes Lawsuit

Another day, another crypto legal drama resolved—quietly, of course. Coinbase just settled its infamous Dogecoin sweepstakes lawsuit for a cool $1.2 million, dodging further courtroom theatrics.

Background: Back in 2023, users accused the exchange of running a ’rigged’ DOGE giveaway. Now, payouts are incoming—though we’re betting the lawyers got the fattest bags.

Why it matters: Regulatory scrutiny’s tighter than a Bitcoin maximalist’s grip on their cold wallet. This settlement lets Coinbase sidestep setting a precedent—smart move before the next SEC ambush.

Bonus cynicism: Nothing says ’decentralized future’ like settling in good old-fashioned fiat. The irony’s thicker than a Wall Street banker’s bonus.

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