Crypto Class Actions on Pace to Nearly Double in 2025

The number of investor-led class-action lawsuits in the US relating to crypto and artificial intelligence is already nearing the total filed in all of 2024. Cornerstone reported on Wednesday that AI and crypto were the top trends in complaints in the first half of 2025, with 12 AI-related filings and six crypto-related filings. Both figures are just shy of the total number of similar complaints filed across the whole of last year. This surge comes despite the total number of securities class actions filed by shareholders claiming losses remaining flat in the first half of 2025, with 114 new lawsuits compared to 115 filed in the last half of 2024. The report highlights that aggrieved investors continue to take civil action against crypto companies even as US agencies, including the Justice Department and the Securities and Exchange Commission, have scaled back crypto enforcement under President Donald Trump.

Crypto Class Actions Near 2024 Total

In 2024, there were seven crypto-related class lawsuits filed. The six filed so far in 2025 mark a significant increase that is set to surpass last year’s total. Of these six filings, half targeted a crypto issuer, one complaint was against a crypto miner, and two were against what Cornerstone describes as “cryptocurrency-adjacent companies” — businesses selling mining rigs, attempting to enter crypto, or partnering with crypto firms. Half of the crypto-related complaints filed this year were brought by the law firm Burwick Law. Notable lawsuits include complaints against Pump.fun and those allegedly behind the controversial LIBRA memecoin. Burwick Law founder Max Burwick told Cointelegraph that civil actions, especially those related to crypto, “often provide a vital path to accountability when other remedies have yet to catch up.” The remaining filings were led by Pomerantz LLP (two cases) and Glancy Prongay & Murray (one case).

“AI-Washing” a Key Driver of Related Lawsuits

The report also noted that the dozen AI-related filings in the first half of 2025 are closing in on the 15 total filed last year. Stanford law professor and former SEC Commissioner Joseph Grundfest explained that the surge in AI-related securities litigation is “primarily driven by the phenomenon known as ‘AI washing’ — where companies exaggerate, misrepresent, or falsify the extent or significance of their AI capabilities to investors and the public.” This practice often results in legal claims when the truth is revealed and investors suffer losses. Grundfest added, “I have nothing else to add to this AI explanation of AI litigation.”

Frequently Asked Questions (FAQ)

What is driving the increase in crypto class-action lawsuits?

The surge in crypto class-action lawsuits is driven by aggrieved investors seeking accountability from crypto companies. This trend continues even as US agencies have scaled back crypto enforcement.

What types of companies are being targeted in crypto class actions?

Targeted companies include crypto issuers, crypto miners, and "cryptocurrency-adjacent companies" that are involved in mining rig sales, attempting to enter the crypto space, or partnering with crypto firms.

Who are the law firms leading these crypto class-action lawsuits?

Prominent law firms leading these cases include Burwick Law, Pomerantz LLP, and Glancy Prongay & Murray.

What is "AI washing"?

"AI washing" refers to companies exaggerating or misrepresenting their AI capabilities to investors and the public, often leading to legal claims when these misrepresentations are exposed and investors suffer losses.

Why are AI-related lawsuits increasing?

The phenomenon of "AI washing" is a primary driver behind the rise in AI-related securities litigation, as companies may face legal action for falsely promoting their AI advancements.

Crypto Market AI's Take

This trend of increased class-action lawsuits in both crypto and AI sectors highlights the growing need for transparency and genuine innovation in these rapidly evolving fields. As investors become more vigilant, companies must ensure their claims are substantiated and their practices are ethical to avoid legal repercussions. At Crypto Market AI, we focus on providing accurate market intelligence and analysis, leveraging AI to help users navigate these complex markets with greater confidence. Our platform offers insights into market trends and company performance, aiming to empower investors with the information they need to make informed decisions.

Crypto class actions on pace to nearly double in 2025