Under Donald Trump’s new administration, it looks like the Securities and Exchange Commission (SEC) is dramatically shifting its approach to crypto regulation, leading to a rapid wave of dropped lawsuits.

In fact, this month alone, the SEC has already withdrawn legal action against a striking number – six major crypto companies.

Adding to the trend, just this week, Joseph Lubin, the founder of Consensys, announced that the SEC has agreed to drop its lawsuit targeting MetaMask, their popular crypto wallet.

And on Wednesday, Gemini, the crypto exchange owned by the Winklevoss twins, also received good news. The SEC has concluded its investigation into them. A jubilant Cameron Winklevoss took to social media to celebrate the dismissal and didn’t hold back, calling for those responsible for the investigation to face public accountability.

Read more: Crypto hasn’t stopped dumping since Donald Trump’s inauguration

Adding to the list of dropped investigations, the SEC also closed its probe into Uniswap Labs just on Tuesday. This follows similar moves last week for trading platform Robinhood and NFT marketplace OpenSea. And just yesterday, crypto exchange Coinbase also received news that the SEC dismissed its lawsuit against them.

Whispers are also circulating that Ripple, the blockchain firm, might be next. Rumours suggest the SEC could drop its lawsuit against them or reach a settlement. Further fueling this perception of a shift, Tron founder Justin Sun and the SEC have jointly requested a court to put their 2023 wash trading case against Sun on hold, indicating they are “exploring a potential resolution.”

Read more: The three most likely outcomes for SEC v. Ripple lawsuit

SEC is becoming friendly to crypto under Trump

Looking at the bigger picture, this complete turnaround in crypto litigation strongly suggests a significant shift. It appears the Trump administration is making its mark by reshaping the SEC and ushering in a more relaxed regulatory environment for crypto.

Could this change of heart be influenced by financial factors? It’s worth noting the substantial financial support crypto executives have directed towards Trump. Decrypt reports that Coinbase alone contributed over $70 million to the pro-crypto super PAC “Fairshake.” Other major players like UniSwap, Ripple, and Jump Crypto have also donated to Fairshake, building its war chest to a reported $116 million available for the 2026 midterm elections.

In a more direct move, Justin Sun reportedly purchased $75 million worth of crypto tokens from Trump’s World Liberty Financial last November, just 19 days after Trump’s presidential election victory.