The cryptocurrency exchange Coinbase said on Friday that the Securities and Exchange Commission had agreed to drop its lawsuit against the companyrich9, lifting a legal cloud over the global crypto industry and signaling a broader retreat by federal regulators.

Coinbase, in a post on its website and in a regulatory filing, said it had reached an agreement in principle with the S.E.C. to have the lawsuit withdrawn without any financial penalty. If the S.E.C. confirms the proposed settlement, it would be a remarkable reversal by the agency after years of legal battles against crypto firms.

The S.E.C. sued Coinbase, the largest U.S. crypto company, in 2023 on the grounds that the digital currencies sold on its platform constituted unregistered securities that put consumers at risk of financial harm.

Any settlement that results in a dismissal of the lawsuit would require the approval of the S.E.C.’s commissioners. A spokesperson for the agency declined to comment on Coinbase’s announcement.

The lawsuit was the most significant of several that the S.E.C. had filed against major crypto companies, arguing that they were operating outside the law. A victory for the government could have threatened the continued operation of Coinbase, a publicly traded company worth about $65 billion, and decimated the broader crypto market.

The dismissal would be the biggest victory for the crypto industry since President Trump took office last month,pinaswin88 casino promising to end the Biden administration’s regulatory crackdown on crypto under the previous S.E.C. chair, Gary Gensler. And it would underline the growing influence in Washington of billionaire technology executives, who wrote enormous checks to support Mr. Trump’s campaign, hoping to secure softer regulation.

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Robinson’s history of comments that have been widely criticized as antisemitic and anti-gay made him a deeply polarizing figure in North Carolina long before his bid for governor was upended last week by a CNN report that he had called himself a “Black NAZI” and praised slavery while posting on a pornographic website between 2008 and 2012. Now, some of his allies are abandoning him. Most of his senior campaign staff members have resigned. The Republican Governors Association said that its pro-Robinson ads would expire tomorrow and that no new ones had been placed. And former President Donald Trump, who endorsed Robinson in the spring, calling him “Martin Luther King on steroids,” did not mention him once during his rally in the state over the weekend.

Mr. Biden even held on to hope for the transformative peace deal for the Middle East that he thought was within grasp a year ago, believing it could survive even as the war between Hamas and Israel tore at its foundations.

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