Coinbase Reaches Agreement With DynaPass to End Patent Dispute

Coinbase Inc. is dropping its suit against DynaPass Inc., which claimed the software company baselessly accused the cryptocurrency exchange of infringing a patent related to two-factor authentication.

The companies reached an agreement that includes a covenant not to sue Coinbase; its customers, suppliers, and partners; or other members of the nonprofit advocacy group Crypto Open Patent Alliance, according to a notice of dismissal with prejudice filed Oct. 31 in the US District Court for the Central District of California. Coinbase’s September complaint sought a declaratory judgment that the company isn’t infringing DynaPass’ US Patent No. 6,993,658 and that the patent ...