TL;DR
Again in 2021, Coinbase began accepting Dodgecoin to be traded on the alternate and launched a marketing campaign the place they deliberate to present away $1.2M price of DOGE ‘at no cost.’
Whereas there was technically a free option to enter the competitors, who makes use of snail mail nowadays (particularly for a contest actually targeted round digital foreign money)?
Whether or not Coinbase was in the best or the incorrect, this simply feels dodgy. If there’s something we’ve learnt over the previous few years in regards to the Web3 trade it’s that the individuals on this area worth belief above all else.
Full Story
One other day, one other crypto case in court docket…sorta.
We are saying ‘sorta’ as a result of, whereas this can be a class motion lawsuit in opposition to Coinbase, and it does contain Dodgecoin, it’s not likely about crypto.
Lettuce clarify.
Again in 2021, Coinbase began accepting Dodgecoin to be traded on the alternate.
To advertise their new coin providing, they launched a marketing campaign the place they deliberate to present away $1.2M price of DOGE ‘at no cost.’
There have been two methods to enter: Purchase or promote $100 or extra in DOGE; or mail in an entry request with out having to commerce $100+.
See the place we’re going with this?
Whereas there was technically a free option to enter the competitors, who makes use of snail mail nowadays (particularly for a contest actually targeted round digital foreign money)?
Right here’s our tackle this:
First off, this isn’t a case about whether or not crypto is a safety or commodity, or something like that. It’s a case about sweepstakes guidelines.
On one hand, it appears Coinbase didn’t actually do something incorrect – they mentioned it was at no cost and there was a free choice to enter.
However then again, it simply feels dodgy.
If there’s something we’ve learnt over the previous few years in regards to the Web3 trade it’s that the individuals on this area worth belief above all else.
Whereas thus far this hasn’t broken Coinbase’s status too badly, in hindsight, it in all probability wasn’t such a wise transfer.
Ultimately, with authorized charges and a possible payout, the promotion in all probability wasn’t price it in any respect.
Lesson learnt (hopefully)!
