The number of class-action lawsuits against crypto firms has surged, nearly matching 2024's total in the first half of 2025. Investors continue to hold these firms accountable despite changing regulatory attitudes. Securities-related lawsuits are common, but firms also face actions regarding consumer protection and fraud. A notable case involves Bakkt, which is accused of misleading investors about revenue loss due to client departures. This reflects broader accountability and transparency issues within the crypto industry as scrutiny intensifies.
According to a recent report from economic and financial consulting firm Cornerstone, the number of class-action lawsuits opened against crypto firms in the first half of 2025 has nearly matched last year's total. Investors are still holding crypto firms accountable despite the 180-degree turn in enforcement attitudes from US financial regulators.
American cryptocurrency exchange Bakkt is facing a class-action lawsuit in which the plaintiffs claim the exchange made false or misleading statements and failed to disclose certain information. The filing claimed there would be a 73% loss in top-line revenue, as Webull made up 74% of Bakkt's crypto services revenue.
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