While crypto adoption is spreading across the globe, companies operating in the industry are increasingly targeting class action lawsuits.
According to a new report by economic and financial consulting firm Cornerstone, the number of class actions against Crypto opened in the first half of 2025 is almost the same. Match the total number of last year.
Although U.S. financial regulators (such as U.S. financial regulators) have reached a 180-degree enforcement attitude under President Donald Trump’s management, investors are still asking cryptocurrency companies to be responsible.
Cornerstone’s findings represent only class action lawsuits related to securities. Crypto companies also face class action lawsuits related to consumer protection and fraud. Some of these companies even touched high-ranking politicians like the Argentine president.
Here are six major crypto cases that made headlines in the first half of 2025.
Bakkt accused of violating securities laws
Bakkt, a U.S. cryptocurrency exchange based in Georgia and New York, faces a class action lawsuit, where plaintiffs claim the exchange made false or misleading statements that failed to disclose certain information.
Chief plaintiff Guy Selger A. Franklin (Guy A.
plaintiff Claims Bakkt violates U.S. Securities Act And the loss of Bank of America and Webull due to customers, thus lacking transparency.
The document claims that from 2023 and 2024, Webull accounted for 74% of Bakkt’s crypto services revenue, and Bank of America accounted for 17% of its loyalty services revenue from January 2024 to September 2024.
According to the complaint, Bakkt “misrepeated the stability and/or diversity of its crypto service revenue.”
Coinbase faces class action lawsuits in multiple ways
Coinbase, a major U.S. cryptocurrency exchange, and some of its executives are facing multiple class action lawsuits in multiple states.
In February, Coinbase shareholder Wenduo Guo File a complaint in federal court In New Jersey, the allegations fail to disclose that client assets can be considered part of Coinbase’s bankruptcy estate, leaving retail clients unsecured creditors.
The complaint states that the exchange collapsed before Coinbase’s public listing in 2021, which left investors tall and dry. It claims that despite Coinbase’s statements, the exchange is no different.
In May, more cases were filed, accusing Coinbase of Violation of biometric identification laws in Illinois. Plaintiffs Scott Bernstein, Gina Greeder and James Lonergan claimed in a May 13 lawsuit filed in federal court that the exchange’s “wholesale collection” facial printing “know your customer requirements” violated the Biometric Information Privacy Act (BIPA).
“Coinbase does not publicly provide retention schedules or guidelines to permanently destroy the plaintiff’s biometric identifiers specified by Bipa,” they said.
May 15, together Announce Cybercriminals bribed overseas support agents to leak customer data and help facilitate cyber engineering attacks on customers. Initial estimates Compensation and reimbursement expenses Between $180 million and $400 million.
Vulnerability Caused at least six lawsuits A few days after the incident, a lawsuit was filed against Coinbase. On May 22, Coinbase investor Brady Nessler claimed that the violations caused “huge losses and losses” from shareholders.
The Bitcoin strategy is under legal scrutiny
Strategy, software company –and-Bitcoin investment tools are led by Bitcoin (BTC) The greatest savant Michael Saylor, is Class action lawsuit in mid-May.
According to SEC Registerthe class action lawsuit alleges that the strategy and its executives “misleading and/or misleading statements about our Bitcoin-focused investment strategy and the expected profitability of the Treasury business.”
The filing on May 16 came days before the strategy acquired 7,390 BTC for $764.9 million, with an average price of about $103,500.
Libra coins face Investor anger
In one of the strangest cases of cryptocurrencies this year, Libra, the token project backed by Argentina President Javier Milei, faces a class action lawsuit from disgruntled investors.
Libra was initially seen as a blockchain project that will stimulate economic development in Argentina and is part of Memecoin Frenzy, defined in early 2025.
The value of the token soared after its initial release in February and offered a support tweet from Milei, which was later deleted and then denied as Libra’s price Falling on Earth.
March 17, Burwick Law Class action lawsuit filed against Kelsier VenturesKIP protocol and Meteora, conduct Libra token launches in a “deceptive, manipulative and simply unfair” manner.
Hayden Davis, co-founder of Kelsier Ventures Try to dismiss New York lawsuitClaims that the court lacks jurisdiction over tokens launched globally.
Pump. FunMemecoin Frenzy Faces Blackmail
In July, Memecoin Launchpad Pump.Fun became the target of a class action lawsuit that accused it of Used as a “front slot cabinet” Get more than $5.5 billion in users through the Memecoin program.
“The structure mimics a manipulated slot machine that won the winning process after several players poured the tokens into the later machines. There was no basic project, product or revenue, it was just a fast moving cycle of buying, dumping and collapse.”
Complaints also include claims by rackets and the Corrupt Organizations Act (RICO) for claims, fraud, assistance and education, civil conspiracy and injustice.
The plaintiff is seeking to revoke all pumps. In addition to compensatory losses, investment transactions.
Nike faces “carpet pull charge”
Global sportswear giant Nike faces allegations of executing carpet pulls when shutting down its unkillable token (NFT) platform RTFKT.
Major brands have jumped on this trend, just causing many to close their stores and exit the industry completely after a few years. Nike is no exception.
A group of RTFKT users, led by Jagdeep Cheema, claimed in an April 25 filing that they suffered “significant losses” after Nike hyped its sneaker-themed NFTs, simply shutting down the hosted platform.
The lawsuit claims that Nike offers unregistered securities in the form of NFTs and seeks $5 million in damages, claiming that Nike violates consumer protection laws and violates unfair trade and competition laws in various states.
Legal action may take some time
Class action lawsuits are increasing against cryptocurrency companies and participants operating in the cryptocurrency industry. These cases may contain serious financial and reputational impacts, but they can also take a long time to draw conclusions if they do.
For example, in April 2020, Chase Williams filed a lawsuit against Binance, accusing the exchange of selling unregistered tokens that lost much of their value. binance Trying without fire If the motion is rejected, Bring its case to the U.S. Supreme Court for review. The Supreme Court refused the review only in January and ruled that the case could continue.
Other cases, such as opposition to celebrities Approved FTXthere are It took years to reach a settlement or some form of conclusion.
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