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On Thursday, the U.S. Supreme Court delivered a unanimous decision against Coinbase Inc. , addressing an arbitration dispute that emerged from the cryptocurrency exchange’s 2021 Dogecoin sweepstakes.“The question whether these parties agreed to arbitrate arbitrability can be answered only by determining which contract applies,” Justice Jackson wrote.
The latest Supreme Court ruling confirmed that a lower court should determine which agreement controls this case. Justice Jackson also dismissed Coinbase’s argument that ruling against them would lead to widespread legal confusion and enable parties to evade arbitration agreements. “We do not believe that such chaos will follow,” they wrote.
They also noted that because of the case’s narrow scope, it will have limited applicability in future arbitration-related cases.Last year, Coinbase won in a different arbitration-related matter, supported by the court’s conservative majority. In response to the latest decision, Coinbase’s Chief Legal Officer Paul Grewal commented on X, “Some you win. Some you lose.
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