Coinbase settles sweepstakes suit for $2.25M

SAN FRANCISCO — A federal court in California granted preliminary approval to a settlement between the cryptocurrency exchange Coinbase and a class of its users who complained about a Dogecoin sweepstakes that allegedly did not sufficiently disclose that anyone could join by mailing in a contest entry, not just by buying or selling at least $100 in Dogecoins. The crypto exchange will pay $2.25 million in compensation and attorney fees.