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Techub News reports that, according to Bloomberg Law, U.S. Southern District Court Judge Jed S. Rakoff dismissed the securities claims against Coinbase related to Terra tokens, with remaining claims to proceed to arbitration.
More than a dozen users holding LUNA and Wrapped LUNA tokens sued Coinbase starting in May 2025, accusing it of conflicts of interest. This ruling only pertains to the securities claims; the remaining disputes will proceed to arbitration in accordance with the platform's user agreement.