Veritaseum Sued Coinbase Over Patent Infringement, Seeks $350 M For Settlement
Coinbase gets into trouble with another lawsuit of patent infringement, among its other legal issues. A blockchain-based fintech software company in New York, Varitaseum Capital LLC, sued the crypto exchange for infringing its patent transfer technology for several exchange services. Reggie Middleton, the founder of Veritaseum, filed the patent infringement case against Coinbase in Delaware […]
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The plaintiff, Veritaseum believes that other centralized and decentralized crypto exchanges may have also unlawfully used the patent to facilitate crypto payments, trading, and staking services. Crypto exchange Coinbase has found itself in legal hot water after being accused by blockchain-based software firm Veritaseum Capital of infringing on a patent relating to its blockchain technology — and is now seeking $350 million in damages. According to a lawsuit filed on Thursday by U.S. law firm Brundidge & Stanger in the U.S. District Court in Delaware, Veritaseum alleges that Coinbase....
Bitcoin and ether exchange startup Coinbase is seeking a patent for a security system for bitcoin private keys. According to an application published on 24th November by the US Patent and Trademark Office (USPTO), Coinbase is aiming to patent a “security system forming part of a bitcoin host computer”. Coinbase submitted the application in May of last year, with software engineers Andrew Alness and James Hudon listed as inventors. The startup, which has raised more than $116m in venture capital to date, has sought other patents in the past. The last few months have seen a flurry of....
VeChain Global Technology has petitioned for a patent with the U.S. federal agency Patent and Trademark Office (USPTO). Filed on April 22nd, 2021, the application seeks to register methods, devices, blockchain nodes, and a system for carbon recording and trading, per the document published by the agency. The patent has been attributed to Jianliang Gu, […]
Bitcoin services firm Coinbase has filed nine patent applications with the US Patent and Trademark Office (USPTO). The USPTO - the agency responsible for issuing patents to investors and businesses as well as registering product and intellectual property trademarks - received the submissions on 17th March this year. According to the filings, published this month, Coinbase submitted patent applications for various products including a hot bitcoin wallet, an instant exchange (which the company launched in June), a bitcoin exchange, a bitcoin tipping button alongside two off- and....
Kik will pay $5 million in penalties as part of a proposed settlement with the SEC, which sued the messaging app last year.