The Securities and Exchange Commission’s David Hirsch, Head of the SEC’s Crypto Asset and Cyber Unit, announces his departure after 9 years.
David Hirsch, who led the SEC’s Crypto Asset and Cyber Unit, is leaving after nearly nine years.
Under his watch, the SEC cracked down hard on crypto giants like Binance, Solana and Coinbase
At a Glance: Hirsch’s Distinguished Tenure at SEC
Hirsch revealed his exit via LinkedIn on Monday, reflecting on his impactful tenure:
“This past Friday was my last day with the SEC after almost 9 years,” he wrote.
“During that time I had the opportunity to work on more complex, challenging investigations and issues than I ever imagined when I joined the agency as a staff attorney in the Fort Worth Regional Office. I’m particularly proud of the historic work done by the Crypto Assets and Cyber Unit team I had the privilege to lead,” he added.
Hirsch was the SEC’s hammer in the crypto world. Under Hirsch, the SEC went full throttle with high-profile crypto cases. November saw the SEC brag about a banner fiscal year 2023, marked by major crackdowns in the crypto space.
Big names like Terraform Labs, Do Kwon, Richard Heart, Sam Bankman-Fried, Genesis, Gemini, Celsius, Kraken, Nexo, Beaxy, Bittrex, Binance, and Coinbase felt the heat.
After the announcement, rumors swirled that Hirsch, fresh off his resignation from the SEC, signed on as head of trading at Pump.Fun, a Solana-based meme coin launchpad
David Hirsh of the @SECGov quits and becomes head of trading at Solana's @pumpdotfun launchpad 👀
David was the Chief of the crypto asset unit in the enforcement division of the SEC. pic.twitter.com/b8zd60L9E2
— MartyParty (@martypartymusic) June 17, 2024
David Hirsch quickly dismissed the rumors as baseless.
In a statement to Cointelegraph, he confirmed he has not revealed his next move and it won’t involve a memecoin platform. ‘The claim is false,” Hirsch insisted.
What’s Next for the SEC and the Industry?
With Hirsch stepping down, the SEC faces a crucial moment in its crypto crackdown. His exit creates a leadership gap as regulatory heat turns up with the US presidential election in November.
His departure leaves everyone guessing: will the next in line continue the rigorous crackdowns or shift gears? Only time will tell.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
