Kessler Topaz has filed a class action complaint against Coinbase Global, Inc. (“Coinbase”) relating to its deceptive practices when executing transactions for its customers.
Specifically, the complaint alleges that Coinbase includes a hidden fee in the price it quotes its customers for cryptocurrency trades that it buries in the “price.” This hidden fee is called the Spread Fee. The “price” quoted by Coinbase in its order preview is not the same market price of the cryptocurrency listed elsewhere on Coinbase’s website and mobile application: it is the effective price after Coinbase charges its additional Spread Fee. Thus, the “Coinbase fee” does not include all fees that a consumer must pay Coinbase in connection with the transaction because it excludes the hidden Spread Fee that Coinbase buries in the “price” listed in its order preview.
Please contact us today to discuss your rights if you are a resident of California and made cryptocurrency transactions on the Coinbase standard platform since June 1, 2021. You may contact us at 484-270-1453, or you can fill out our online form below, or by email at info@ktmc.com.