Supreme Court hears dispute between Coinbase, ex-users over cryptocurrency losses -
At issue, however, is whether the claims must be settled through arbitration instead of by trial in a district court.
“The very right that Congress has authorized for that immediate appeal is being taken away effectively,” Mr. Katyal said Tuesday. “All that toothpaste can’t be put back into the tube.” The second claim was brought by former users of the company claiming it violated certain parts of California law when it held a “Dogecoin Sweepstakes” in 2021. The users accuse Coinbase of tricking them into paying hundreds of dollars to enter the contest for a shot at up to $1.2 million in Dogecoin crytocurrency.
“As a practical matter, this means the courts retain their equitable power to use their discretion to issue stays when appropriate,” Mr. Zavareei said, arguing that the district court should have the choice as to when to issue an injunction — “a power that has been vested in this court since the founding of the Republic.”
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