The U.S. Supreme Court has ruled against Coinbase in a 2021 Dogecoin sweepstakes dispute, marking a significant moment for the crypto exchange. The court decided that users couldn’t be forced into arbitration, a move Coinbase had pushed for. The ruling emphasized that the original agreement between Coinbase and its users could not be overridden by a second agreement without clear consent from both parties. Following the Supreme Court’s decision, Coinbase’s stock price dropped by over 3.5%.

Coinbase has faced multiple legal challenges recently, including another arbitration-related dispute and a lawsuit from the SEC for unregistered securities sales. These cases underscore the regulatory scrutiny that Coinbase and other crypto exchanges face.

Dogecoin has seen significant volatility in recent months, with a nearly 200% rally earlier this year followed by a price drop. Despite its fluctuations, Dogecoin remains a popular choice among crypto enthusiasts. The future of both Coinbase and Dogecoin will depend on market dynamics, investor interest, and the broader regulatory environment.