As the end of his Securities and Exchange Commission lawsuit against his Ethereum software company appears to be nearing, Consensey founder and CEO Joe Rubin (co-founder of Ethereum itself) is optimistic about the future of Crypto in the United States.
Talk to Decryption At ETH Denver in 2025, Rubin said there was a change in the ocean between former presidents Joe Biden and Donald Trump’s administrations, who took office in January.
“There have been major changes and changes in approach,” Rubin said Friday. “We are currently having constructive discussions with the SEC rather than facing unreasonable attacks.”
He added: “We feel freed and are excited to be active in America that embrace decentralization and not seek granular control over every aspect of human life.”
During the 2024 presidential election, Trump at the time promised a more favorable environment for US cryptography.
In July 2024, the SEC sued Consensy over MetaMask’s staking services, accusing the company of being involved in unregistered offers and selling securities. For many, the SEC’s actions under then-chairman Gary Gensler were subject to enforcement regulations rather than providing clear guidelines for the blockchain industry to operate in the US.
On Thursday, the company said it agreed to end the lawsuit against Consensee and has pending the commissioner’s approval. The announcement resonated when the SEC concluded its investigation and killed an aggressive lawsuit against crypto companies, including Coinbase, Robinhood, Uniswap Labs and Opensea.
The SEC case ends upon growth of Consency and its Metamask Wallet. With Eth Denver, Metamask announced support for both Bitcoin and Solana, expanding beyond the popular wallet’s longtime Ethereum and EVM cores. (Disclosure: Consensys is one of 22 editorially independent investors. Decryption. )
According to Lubin, US institutions have been increasingly embraced since Trump took office to learn about blockchain and dangerous cryptocurrencies.
“The rest of the government is exploring ways to recognize our technology and support it,” he said. “Whether it’s through stablecoins, market structure, or David Sachs’ work on crypto and AI, acceleration is undoubtedly continuing.”
Edited by James Rubin
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