📚 From Coinbase to LIBRA: Class-Action Lawsuits Are Piling Up in Crypto

[ed]

2025 isn’t just the year of memecoins and ETFs — it’s also shaping up to be the year of lawsuits.

A new report from Cornerstone Research reveals that class-action lawsuits against crypto firms in H1 2025 have nearly matched all of 2024 — and we’re only halfway through the year.

Here’s a breakdown of the biggest legal battles rocking the crypto space right now:

️ Coinbase is getting it from all sides:

Sued for not warning users that their assets could be part of bankruptcy proceedings.

Sued under Illinois' biometric privacy laws for collecting faceprints during KYC.

Sued again after a massive data breach, where support agents leaked customer data — losses projected at up to $400M.

️ Bakkt is accused of misleading investors about losing key clients (Webull + Bank of America), resulting in a 73% revenue collapse. Lawsuit seeks a jury trial.

🧠 Strategy (Michael Saylor’s Bitcoin juggernaut) is being sued for allegedly overhyping its BTC treasury strategy and misleading investors on profitability — lawsuit dropped just before they bought another 7,390 BTC.

LIBRA — the memecoin tied to Argentine President Javier Milei — is under fire after its price pumped and dumped post-Milei endorsement. Investors are suing for manipulation and fraud.

Pump.fun, the memecoin launchpad, is facing a RICO lawsuit, accused of operating like a rigged slot machine, enabling billions in rug pulls with no actual products or projects behind the tokens.

Nike is being sued for rug-pulling its RTFKT NFT platform, allegedly leaving collectors with worthless assets. Plaintiffs are seeking $5M+ in damages, accusing Nike of pushing unregistered securities.

Why it matters:
Crypto firms are no longer operating in a legal gray zone — they’re being dragged into courtrooms alongside Wall Street giants. From consumer fraud to securities violations, the legal heat is rising.

And if history is any guide, these cases will drag on for years — with massive reputational and financial consequences in play.

TL;DR:
Crypto firms might be onboarding millions, but they’re also onboarding lawyers.
DYOR, not just for tokens — but for platforms too. The courtroom is Web3's new battleground.

[jacson4]

️ From Coinbase to Libra, the rise of class action lawsuits in crypto signals a major shift — legal accountability is catching up with innovation. For years, crypto operated in a grey zone. Now, regulators and users are pushing back.
These lawsuits aren’t just about individual projects — they’re testing the very foundations of how crypto platforms operate. Centralized custody, KYC gaps, token classification — everything’s under legal scrutiny.
The takeaway? If you’re building or investing in Web3, legal structure matters now more than ever. “Move fast and break things” is no longer a shield. Compliance and transparency aren’t optional anymore — they’re survival tools.

[Nahid10]

Class action lawsuits in crypto are piling up — and that’s a sign of a maturing industry. The early “wild west” era is fading, and both users and regulators are demanding accountability.

🧠 Projects like Coinbase and Libra facing heat show that even the biggest names aren’t immune. As billions flow into the space, expectations around consumer protection and legal clarity are growing fast.

️ If crypto wants mass adoption, it needs to prove it can operate under real-world laws — not just code. The next bull run won’t just reward innovation — it’ll reward those who built with compliance in mind.