Crypto News: Flat Overall Filings, Rising Crypto and AI Suits in 2025

Key Insights:

• Recent crypto news and data shows six crypto and 12 AI class actions in H1 2025 nearly match 2024’s total.
• Securities suits remain flat around 114 vs. 115.
• Burwick Law filed half of the crypto cases.

The first half of 2025 saw 114 new securities class-action filings, nearly matching the 115 filed in H2 2024. Seemed like, overall lawsuit volume was essentially flat.

Core filings (excluding M&A cases) were 111 in H1 2025 versus 112 in H2 2024. These figures align with the long-term semiannual average (about 113).

Notably, filings were skewed to Q1 (67 in Q1 vs. 47 in Q2). While counts held steady, risk metrics spiked: the “Disclosure Dollar Loss” index jumped 56% to $403 billion in H1 2025, and “Maximum Dollar Loss” hit $1.85 trillion. In short, the number of suits didn’t grow, but their scale did.

Crypto News and Recent Data Shows a Rise in Filings

Investor lawsuits over crypto assets are also climbing. Six new crypto-related securities class actions were filed in H1 2025 versus seven for the entire 2024.

In Cornerstone’s July report, cryptocurrency was one of the top trending topics in filings. This surge comes even as federal agencies have softened crypto enforcement under the new administration.

Notably, half of the 2025 H1 crypto cases were brought by Burwick Law – including a complaint over the Pump.fun platform and another over the LIBRA meme token.

Pump.fun’s UK operator, Baton Corporation, was sued Jan. 30, 2025 by investor Diego Aguilar in a New York federal court. The complaint alleges Pump.fun’s platform worked with influencers to market “unregistered security memecoins,” generating roughly $500 million in fees from investors. (Pump.fun denies wrongdoing.)

In short, crypto class suits are piling up – investor lawyers say they offer “a vital path to accountability” when regulators lag.

AI Litigation Surges

A striking exception to the flat overall trend is AI-related securities litigations. Twelve AI-focused class actions were filed in H1 2025. It was up from only five in the prior half-year and on pace to exceed the 15 total in all of 2024.

In fact, AI claims were the single largest trend category in new complaints. Many of these suits hinge on “AI washing,” where companies allegedly overstate their use of AI.

Former SEC Commissioner Joseph Grundfest captures the idea: “ChatGPT explains the increase in AI-related securities litigation as ‘primarily driven by … “AI washing” — where companies exaggerate, misrepresent, or falsify the extent or significance of their AI capabilities’,” he said.

When the truth comes out, investors sue. “I have nothing else to add to this AI explanation of AI litigation,” Grundfest quipped. In short, dollars at risk and AI are the big trends.

Notable Crypto Cases in News

In April 2025, a group of Solana token buyers filed a class action against decentralized exchange Meteora and VC firm Kelsier Labs.

The amended complaint (Apr. 21) says Meteora helped launch a token called $M3M3 by falsely touting “trusted leaders” in Solana, then inflated the price. Plaintiffs claim roughly $69 million in losses from the scheme.

Relatedly, a separate suit in March 2025 accuses promoters of the “LIBRA” meme token (tied to Argentina’s former president’s network) of a “deceptive, manipulative” launch.

Even celebrity memecoins draw suits: creators of Haliey Welch’s $HAWK coin face a December 2024 class action claiming the token was an unregistered security.

Other recent cases involve crypto miners, exchanges and adjacent firms (e.g. hardware sellers) which is a sign that the traditional SEC playbook (Section 5 registrations, insider trading) is extending into blockchain.