$2.25M Coinbase Settlement Resolves Lawsuit Over June 2021 Dogecoin Sweepstakes Advertising

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A $2.25 million settlement has been reached to resolve a class action lawsuit that alleged that consumers were not properly informed about the free method of entry into a Dogecoin sweepstakes sponsored by cryptocurrency exchange Coinbase and administered by Marden-Kane, Inc. in June 2021.

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The court-authorized website for the Coinbase class action settlement can be found at June2021DogecoinSweepstakesSettlement.com.

The deal covers a class of approximately 447,644 people in the United States who opted into the June 2021 Dogecoin sweepstakes sponsored by Coinbase and bought, sold or traded Dogecoins on the cryptocurrency trading platform for an aggregate $100 or more between June 3 and June 10, 2021.

According to the official Dogecoin sweepstakes settlement website, eligible class members are entitled to receive a pro-rated share of the $2.25 million settlement fund, after deductions are made for attorneys’ fees, administrative expenses and service awards.

Consumers do not need to do anything to receive a Coinbase class action settlement payout, the site states.

Per the website, eligible class members will automatically receive a settlement payment through their Coinbase account (if it remains open and active) or via check issued to the mailing address provided in their account as of June 17, 2025. Those who wish to confirm or change their address on file may contact the settlement administrator.

Related Reading: Free Entry? Coinbase Misleadingly Advertised $1.2M Dogecoin Sweepstakes to Boost Crypto Trades, Class Action Alleges

The class action settlement website says that individual payout amounts will depend on how much Coinbase charged a consumer in transaction fees and spreads for their first $100 in Dogecoin transactions during the sweepstakes period (June 3 to June 10, 2021).

“While the specific amount each Settlement Class Member receives may vary, the estimated average award to individual Settlement Class members is approximately $1.00 to $5.00, with a small percentage of awards being lower and others as high as $17.00, depending upon each individual’s Coinbase transaction records,” the website relays.

Coinbase settlement payments may be reduced or increased on a pro rata basis to exhaust the $2.25 million fund, the settlement agreement notes.

The agreement, which resolves the Dogecoin sweepstakes lawsuit, received preliminary approval from the court on July 3, 2025. A final approval hearing is set for November 10, 2025, at which time the court will determine whether to officially green-light the terms of the deal.

The agreement says that, should the settlement be ultimately approved, payments will be issued to eligible class members within 60 days following the date it goes into effect.

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