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Crypto Giant Can't Arbitrate Laundering Claims: 11th Circ.

Law360 (April 23, 2018, 9:48 PM EDT) -- A customer of the defunct cryptocurrency exchange Cryptsy does not have to arbitrate his proposed class action against digital currency giant Coinbase Inc. alleging it helped Cryptsy’s CEO launder roughly $8 million in stolen customer funds, the Eleventh Circuit said Monday.

A three-judge panel in a nonbinding opinion upheld a Florida federal court’s decision that denied Coinbase’s motion to compel arbitration, finding named plaintiff Brandon Leidel isn’t subject to the arbitration clause that Cryptsy CEO Paul Vernon agreed to with Coinbase when he opened the accounts...
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Case Information

Case Title

Brandon Leidel v. Coinbase, Inc.


Case Number

17-12728

Court

Appellate - 11th Circuit

Nature of Suit

4380 Other Personal Property Damage

Date Filed

June 13, 2017

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