While the adoption of cryptography is spread around the world, companies operating in industry have become more and more the target of collective appeals.
According to a recent report by the Cornerstone Economic and Financial Council company, the number of collective remedies opened against cryptographic companies in the first half of 2025 almost equaled the total of last year.
Investors still hold responsible Crypto companies despite the 180 degree turn in the attitudes of application of American financial regulators such as the Securities and Exchange Commission by virtue of the administration of President Donald Trump.
Cornerstone’s conclusions represent only reduction combinations related to securities. Cryptographic companies are also faced with collective appeals related to consumer protection and fraud. Some of these companies have even affected high -level politicians such as the president of Argentina.
Here are six main cases of cryptography that made the headlines in the first half of 2025.
Bakkt accused of having violated the law of securities
The American Cryptocurrency Exchange Bakkt, whose headquarters are in Georgia and New York, faces an in progress pursuit in which the complainants claim that the exchange has made false or deceptive statements and has not disclosed certain information.
Placed on April 2, the main complainant Guy, Serge A. Franklin, called for a trial with jury for Bakkt, principal advisor and former CEO Gavin Michael, CEO and president Andrew Main and acting director Karen Alexander.
The complainants allege that Bakkt violated American securities laws and lacked transparency around the loss of Bank of America and Webull as customers.
The file said there would be a “loss of 73% of high -level income” because Webull represented 74% of the Bakkt crypto services revenues from 2023 and 2024, and Bank of America represented 17% of its loyalty services income from January to September 2024.
Bakkt “distorted the stability and / or diversity of its crypto service income”, according to the complaint.
Coinbase faces a collective appeal on several fronts
American American crypto exchange corner and some of its leaders are faced with several collective remedies in several states.
In February, Coinbase shareholder, Wenduo Guo, filed a complaint before a federal court in New Jersey, accusing the exchange of not disclosing that customer assets can be considered as part of the bankruptcy of Coinbase, which makes unsatpaged retail creditors.
The complaint noted that the exchange series collapsed before the public list of Coinbase in 2021 which left the investors high and dry. He said that, despite the Coinbase statements, the exchange is not different.
In May, more cases were deposited, alleging that Coinbase had violated the biometric law on privacy in the state of Illinois. The complainants Scott Bernstein, Gina Greeder and James Lonergan affirmed in the May 13 trial deposited before a federal court that the “large collection” of exchange of the exchange for its requirements of violent customers the biometric information privacy act (BIPA).
“Coinbase does not publicly provide retention calendar or directives to permanently destroy the biometric identifiers of the applicants specified by BIPA,” they said.
On May 15, Coinbase announced that cybercriminals had united assistance agents abroad to disclose customer data and help facilitate cybergenierie attacks against customers. Initial estimates include sanitation and reimbursement costs between $ 180 million and $ 400 million.
The violation led to at least six prosecution against Coinbase just days after the incident. On May 22, Coinbase Brady Nessler’s investor said the violation had led “significant losses and damage” for shareholders.
The Bitcoin strategy of the strategy is under legal control
Strategy, the software companysperm-Bitcoin Investment Vehicle led by the Bitcoin maximalist (BTC) Michael Saylor, was struck by a collective appeal in mid-May.
According to a dry file, the prosecution of the course alleged that the strategy and its leaders “have made false and / or misleading statements concerning and / or have not disclosed information concerning the expected profitability of our investment strategy focused on bitcoin and cash operations.”
The May 16 file intervened a few days before the strategy acquired 7,390 BTC for $ 764.9 million at an average price of around $ 103,500.
Balance Coin faces the investor Ire
In one of the strangest cases of crypto this year, balances, the token project which received the support of Argentinian president Javier Milei, faces a use of dissatisfied investors.
The balance, which was initially peddled as a blockchain project which would stimulate economic development in Argentina, was part of the frenzy of the same which defined the crypto at the beginning of 2025.
The value of the token rose after its initial February version of February and a tweet of support from Milei, which was then deleted and then refused while the price of the balance crashed on Earth.
On March 17, Burwick Law filed a collective appeal against Kelers Ventures, Kip Protocol and Meteora for having led the launch of the token in a “deceptive, manipulative and fundamentally unjust manner”.
Hayden Davis, a co-founder of Kelers Ventures, tried to reject the prosecution based in New York, saying that the court has not jurisdiction over the world token.
Pump.
In July, the same launchpad pump.fun became the target of an alleged collective recourse that he worked as a “frontal bodies” which obtained more than $ 5.5 billion from users via even patterns.
“The structure imitates a craft machine where the first players win by pouring their tokens later. There is no project, product or underlying income – only a quick purchase, discharge and collapse cycle,” said the file.
The complaint also includes the law on complaints, fraud and complicity of complaints, fraud and encourage it, civilian conspiracy and enrichment.
The complainants are looking for the termination of all pumping transactions in addition to compensatory damages.
Nike faces “carpet traction allegations”
The global giant of sports clothing Nike faces allegations of carrying out a carpet traction when it closed its non-bubilière (NFT) token (NFT) platform.
The big brands jumped on the trend, only for many stores to close and leave the industry entirely a few years later. Nike was no exception.
A group of RTFKT users led by Jagdeep Cheema said in a file of April 25 that they underwent “significant damage” after Nike sounded NFT on the theme of sneakers, to close the platform on which they were hosted.
The prosecution claims that Nike offered notes not registered in the form of NFTS and requires $ 5 million in damages, claiming that Nike has violated the laws on consumer protection and raped various trade and competition laws.
Legal action can take some time
There are an increasing number of proceedings ongoing against companies and cryptography actors operating in the cryptographic industry. These cases may contain serious financial and reputation repercussions, but they can also take a long time to conclude, if they do.
For example, in April 2020, Chase Williams filed a complaint against Binance alleging that the scholarship sold unregistered tokens that lost a large part of their value. Binance judged and did not reject the case, and once this request was rejected, she brought her case to the United States Supreme Court for examination. It was not until January that the Supreme Court refused the exam and the statue that the case could continue.
Other cases, such as those against celebrities who approved the FTX, have also taken years to reach a regulation or a form of conclusion.
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