Class-Action Lawsuits Against Crypto Firms Including Bitcoin-Focused Strategy Increase in Early 2025

Key Points

1. Bakkt faces allegations of securities law violations and revenue misrepresentation, with Webull accounting for 74% of its crypto services revenue in 2023-2024.

2. Coinbase is under multiple class-action lawsuits, including claims related to biometric privacy violations and data breaches, with estimated remediation costs around $180 million.

3. Strategy, led by Michael Saylor, is challenged over its bitcoin-focused investment strategy, coinciding with its acquisition of 7,390 BTC valued at $764.9 million.

4. LIBRA token, endorsed by Argentine President Javier Milei, faces investor backlash after its value collapsed following Milei's deleted supportive tweet.

5. Pump.fun is accused of operating a deceptive memecoin scheme, generating over $5.5 billion, with allegations of racketeering, fraud, and unjust enrichment.