Bitcoin News Today: Crypto class-action lawsuits surge 48% in 2025 amid legal crackdown

Legal pressure is mounting on major players in the cryptocurrency industry, with a wave of class-action lawsuits targeting exchanges, investment vehicles, and even politically connected projects. According to a report from consulting firm Cornerstone, the number of securities-related class actions filed against crypto firms in the first half of 2025 nearly matched the total from the previous year [1]. These suits persist despite a more relaxed regulatory stance from US financial authorities under the Trump administration.

One of the most notable cases involves Bakkt, a U.S.-based crypto exchange accused of misleading investors by failing to disclose the loss of key clients such as Webull and Bank of America. The filing claims these losses could have resulted in a 73% decline in Bakkt’s top-line revenue [1]. Similarly, Coinbase has found itself under multiple legal challenges, including accusations of failing to disclose the risks associated with customer asset access in case of bankruptcy, as well as alleged violations of Illinois’ Biometric Information Privacy Act (BIPA) due to its faceprint collection practices [1]. A data breach in May further intensified the legal scrutiny, leading to at least six additional lawsuits from affected users and investors.

Michael Saylor’s Strategy, a company heavily invested in Bitcoin, is also under fire. A class-action lawsuit filed in mid-May alleges that the firm and its executives provided misleading information about the profitability of its Bitcoin strategy. This came just days before the company spent $764.9 million to purchase 7,390 BTC [1].

The legal storm has also reached the political sphere. LIBRA, a memecoin backed by Argentina’s President Javier Milei, is facing a class-action suit over claims of deceptive and manipulative practices. The token’s value soared after Milei’s initial support, only to crash after the endorsement was later disavowed. A lawsuit was filed by Burwick Law against the project’s developers, accusing them of unfair conduct [1].

Meanwhile, Pump.fun, a memecoin launchpad, is being accused of operating a rigged system akin to a slot machine, generating $5.5 billion from users before collapsing. The lawsuit includes RICO claims and seeks rescission of all transactions and compensatory damages [1].

Even traditional brands are not immune. Nike is facing allegations that its NFT platform RTFKT executed a rug pull by shutting down after promoting its digital sneakers. The suit claims the company violated consumer protection laws and is seeking $5 million in damages [1].

The growing number of lawsuits highlights the increasing legal risks associated with crypto projects. However, these cases can take years to resolve. A notable example is the 2020 lawsuit against Binance over unregistered tokens, which only recently cleared the U.S. Supreme Court’s review [1]. Legal actions against FTX and its celebrity endorsers have also dragged on for years.

[1] Source: [1] "From Coinbase to Milei and LIBRA: Crypto class-action suits pile up" (https://cointelegraph.com/news/coinbase-milei-libra-crypto-class-action-suits-pile)