Home Latest News Coinbase is facing class action for listing GYEN, TerraUSD

Coinbase is facing class action for listing GYEN, TerraUSD

1 min read
0
0
25
coinbase

The cryptocurrency exchange Coinbase may face class action lawsuits for not performing due diligence before using GYEN, TerraUSD, which resulted in millions of losses.

One suit claimed that the organization failed to tell users about its relationship with Terraform Labs, and the risks associated with TerraUSD (Coinbase Ventures, the investment arm, is the biggest investor in this project). It states that Robinhood, Kraken, and Gemini disclosed more information on these coins compared to Coinbase.

The plaintiffs are represented by Milberg Coleman, Bryson Philips Grossman, and Ericson Kramer Osborne. The last firm is also representing the case against Coinbase and GMO-Z.com Trust regarding the de-pegging.

GYEN first shot up, and then dipped to extreme lows (after being listed), which prompted Coinbase to freeze some accounts. People also have lost millions in the process. The claim is that Coinbase has misrepresented and practiced negligence while listing these coins.

Load More Related Articles
Load More By AtoZcrypto
Load More In Latest News

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Crypto.com Will Begin Operating In France

Singapore-based Crypto.com has received approval to operate as a Digital Asset Service Pro…