Coinbase Slapped With $350 Million Lawsuit Over Patent Infringement

[Dennis2t8]

Veritaseum Capital LLC, a crypto firm that specializes in patents meant for encoding smart contracts, on Thursday filed a lawsuit against Coinbase over patent infringement through several of its services.
The $350 million lawsuit also alleged that Coinbase features, including its website, mobile app, and Coinbase Cloud, Pay, and Wallet services, infringed a patent covering a “secure method for processing digital-currency transactions.”
Meanwhile in July, Veritaseum notified Coinbase regarding the infringement but Brian Armstrong’s Coinbase ignored it, the company in the suit required the court to declare Coinbase guilty and pay $350 million for damages and also stop Coinbase from using the patents in question.


News: https://mycryptoparadise.com/coinbase-slapped-with-350-million-lawsuit-over-patent-infringement/