Veritaseum Capital sues Coinbase for patent infringement, claiming at least $350 million

According to Chain Catcher news, cryptocurrency company Veritaseum Capital has filed a lawsuit in the federal court of Delaware, USA, claiming that multiple services of Coinbase infringe its patents, seeking at least $350 million in damages. Veritaseum states that the patents in question relate to blockchain infrastructure for verifying transactions, which were granted to Veritaseum's founder Reggie Middleton by the U.S. Patent and Trademark Office last December.

It is reported that the U.S. Securities and Exchange Commission (SEC) had previously accused Veritaseum Capital of fraud in the issuance of the token VERI, and the company and its founder paid over $9.4 million to settle with the SEC. (Reuters)