Coinbase and Marden-Kane will pay $2.25 million to settle a class action lawsuit regarding a misleading Dogecoin sweepstakes from June 2021.
The promotion, which promised a $300,000 grand prize, obscured entry requirements, allegedly misleading participants about needing to trade $100 in Dogecoin.
If approved, reimbursement will occur for transaction fees collected during the sweepstakes. This case emphasizes the potential legal challenges faced by crypto exchanges in promotional activities.
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