Class-action lawsuits against crypto firms such as Bakkt and Coinbase have surged in 2025, driven by allegations of securities violations, privacy breaches, and deceptive practices, reflecting increased legal scrutiny in the crypto sector.
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Class-action lawsuits targeting crypto companies have nearly matched last year’s total in just the first half of 2025.
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Major firms face allegations ranging from securities law violations to consumer fraud and privacy breaches.
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COINOTAG reports that these lawsuits pose significant financial and reputational risks for the crypto industry.
Class-action lawsuits against crypto firms rise sharply in 2025, exposing legal risks and investor concerns. Stay informed with COINOTAG’s latest insights.
Bakkt Faces Securities Law Violation Allegations
Bakkt, a prominent American crypto exchange, is under a class-action lawsuit accusing it of violating US securities laws by allegedly making misleading statements and withholding critical client information. Plaintiffs claim Bakkt failed to disclose the loss of major clients Bank of America and Webull, which significantly impacted revenue projections.
Details of Bakkt’s Revenue Misrepresentation
The complaint highlights that Webull accounted for 74% of Bakkt’s crypto services revenue in 2023 and 2024, while Bank of America contributed 17% of loyalty services revenue in early 2024. The lawsuit asserts that Bakkt misrepresented the stability and diversity of its revenue streams, causing investor losses.
Coinbase Under Multiple Class-Action Lawsuits
Coinbase, a leading US crypto exchange, faces several class-action suits alleging failure to disclose risks and violations of privacy laws. One lawsuit claims Coinbase did not inform customers that their assets could be included in bankruptcy estates, potentially making them unsecured creditors.
Biometric Privacy and Data Breach Lawsuits Against Coinbase
Additional lawsuits accuse Coinbase of violating Illinois’ Biometric Information Privacy Act (BIPA) by collecting and retaining facial biometric data without proper disclosure. Furthermore, a major data breach in May 2025 led to multiple lawsuits after cybercriminals bribed support agents to leak customer information, resulting in estimated remediation costs between $180 million and $400 million.
Strategy’s Bitcoin Investment Approach Faces Legal Challenge
Strategy, led by Bitcoin advocate Michael Saylor, is targeted by a class-action lawsuit alleging false or misleading statements about the profitability of its bitcoin-focused investment strategy. The suit was filed shortly before Strategy’s acquisition of 7,390 BTC valued at $764.9 million.
LIBRA Token Sparks Investor Lawsuit After Price Collapse
LIBRA, a token project endorsed by Argentine President Javier Milei, faces a class-action suit accusing its launch of deceptive and manipulative practices. The token’s value surged post-launch but crashed following Milei’s deleted supportive tweet, prompting investor backlash.
Pump.fun Memecoin Launchpad Faces Racketeering and Fraud Claims
Memecoin launchpad Pump.fun is accused of operating a scheme resembling a rigged slot machine, generating over $5.5 billion through deceptive memecoin cycles. The lawsuit includes allegations of racketeering, fraud, and unjust enrichment, seeking rescission of all transactions and damages.
Nike Accused of Rug Pull in NFT Platform Shutdown
Nike faces allegations of a “rug pull” after shutting down its NFT platform RTFKT. Plaintiffs claim Nike offered unregistered securities through NFTs and violated consumer protection laws, seeking $5 million in damages for significant investor losses.
Why Do Class-Action Lawsuits Against Crypto Firms Take So Long?
Class-action lawsuits in the crypto space often span years due to complex legal challenges and appeals. For instance, a 2020 lawsuit against Binance alleging unregistered token sales only advanced after the US Supreme Court declined review in early 2025. Similarly, celebrity-endorsed FTX cases have taken years to resolve.
Frequently Asked Questions
What triggers class-action lawsuits against crypto companies?
Class-action lawsuits are often triggered by allegations of misleading financial disclosures, regulatory violations, data breaches, and unfair business practices that harm investors and consumers.
How long do crypto-related class-action lawsuits typically last?
Crypto class-action lawsuits can last several years due to complex legal issues, appeals, and regulatory investigations, often delaying final resolutions and settlements.
Key Takeaways
- Class-action lawsuits against crypto firms have surged in 2025: Nearly matching the previous year’s total in just six months.
- Major firms like Bakkt and Coinbase face multiple legal challenges: Including securities law violations, privacy breaches, and data leaks.
- Legal proceedings are often lengthy and complex: Delaying resolutions and impacting investor confidence.
Conclusion
Class-action lawsuits in 2025 highlight the growing legal scrutiny of the crypto industry, emphasizing the need for transparency and regulatory compliance. As firms like Bakkt, Coinbase, and others navigate these challenges, investors should stay informed through trusted sources like COINOTAG to understand evolving risks and opportunities in crypto markets.
