Cryptocurrency exchange Coinbase Global Inc. is facing a patent lawsuit related to its digital trading technology.
The lawsuit was filed by Veritaseum Capital in U.S. District Court in Delaware.
Veritaseum Capital accused several Coinbase services, including its blockchain infrastructure for validating transactions, of infringing the patent. It asked the court for at least $350 million in damages.
What Is Veritasuem?
Veritaseum is a worldwide blockchain-based software that creates access to peer-to-peer finance marketplaces. Peer-to-peer refers to the direct exchange of an asset, such as a digital cryptocurrency, between two or more individuals without the participation of a central authority.