Ethereum Software Firm Consensys Says SEC Plans to End Lawsuit

Consensys, the Ethereum software firm behind popular wallet MetaMask, announced Thursday that the Securities and Exchange Commission has agreed in principle to seek a dismissal of its lawsuit against the firm. (Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)

Joe Lubin, the firm's founder and CEO and also the co-founder of Ethereum itself, wrote on X Thursday that pending commissioner approval, the SEC said that it will file with the court to end the case.

"We were committed to fighting this suit until the bitter end but welcome this outcome," Lubin wrote. "No company wants to be the target of agency enforcement, but at the same time, it was our duty and honor to stand up for blockchain software developers in the hour it was most needed, as I’m sure our industry peers who also stood up against regulatory overreach would tell you."

The announcement comes following several other SEC moves over the last week to end investigations or lawsuits against crypto companies, including Coinbase, Robinhood, Uniswap Labs, and OpenSea.

Editor's note: This story is breaking and will be updated with additional details.