{"id":67700,"date":"2022-09-26T17:10:37","date_gmt":"2022-09-26T14:10:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67700"},"modified":"2025-09-07T08:04:48","modified_gmt":"2025-09-07T05:04:48","slug":"veritaseum-sues-coinbase-for-350-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/veritaseum-sues-coinbase-for-350-million\/","title":{"rendered":"Veritaseum sues Coinbase for $350 million"},"content":{"rendered":"

Veritaseum Capital has accused the cryptocurrency exchange Coinbase of patent infringement and \u043e\u0431\u0440\u0430\u0442\u0438\u043b\u0430\u0441\u044c \u0432 \u0441\u0443\u0434<\/a> seeking damages of $350 million.<\/p>\n

According to the complaint, the case concerns ‘Patent 566’ for a cryptocurrency payment technology. Veritaseum Capital believes Coinbase used it on its website, in its mobile wallet, and in other services.<\/p>\n

The company justified the requested $350 million as ‘the exchange’s substantial profits from the infringement’. Veritaseum itself, it is claimed, ‘suffered direct damage’ as a result.<\/p>\n

Lawyers stressed that they warned Coinbase of the alleged infringement as early as July 3. They allowed that representatives of the trading platform could have learned of it earlier ‘from other sources’.<\/p>\n

The company did not rule out the existence of other ‘centralized and decentralized exchanges using an unlicensed patent’ from Veritaseum.<\/p>\n

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Since @coindesk<\/a> @cointelegraph<\/a> haven\u2019t reported this, we\u2019ll break this 179 pg @Coinbase<\/a> suit via our social media accounts. There\u2019s a whole LOT more to follow, in terms of analysis & knowledge. Live AMA to follow, till then see 122 pg forensic analysis https:\/\/t.co\/NMRxRQDo4e<\/a> pic.twitter.com\/sDVWbEZH8r<\/a><\/p>\n

\u2014 Reggie Middleton DeFi Patent US11196566, JP6813477 (@ReggieMiddleton) September 22, 2022<\/a><\/p>\n<\/blockquote>\n