June 16, 2022
Coinbase is a marketplace for cryptocurrency, but the complaint for this class action claims it is also “a significant venture capital investor in [early phase] cryptocurrency companies and one of the largest financial backers of Terraform Labs.” Terraform created TerraUSD (UST), which was promoted as a “stablecoin,” but this complaint brings suit against Coinbase Global, Inc. and Coinbase, Inc., claiming that TerraUSD was never truly a stablecoin.
Case Event File: Coinbase Promotion of TerraUSD as Stablecoin ComplaintRelated to: Coinbase Promotion of TerraUSD as Stablecoin Class Action