EKO has filed a complaint in federal court alleging the Coinbase digital asset exchange heavily promoted the TerraUSD coin (UST).

 

Coinbase categorized the asset as a "stablecoin," according to the complaint, with the stability of a fiat currency. The complaint alleges Coinbase knew these claims were false, and that Coinbase withheld both the volatile nature of UST and its own connections to UST's issuer, Terra Form Labs, from its customers.

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Thousands of Coinbase customers invested in UST through the exchange, then lost untold millions when the UST completely collapsed. It fell in value from its targeted value of $1.00 to less than $0.10 in just days. 

 

If you were a Coinbase customer affected by the UST collapse, or if you have information about the case, please contact us.   

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