- David Hirsch, who led the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement, has left the agency after serving for nine years.
- During his tenure, the SEC embarked on an aggressive campaign of crypto enforcement actions, targeting companies behind major collapses like FTX and Terraform Labs, as well as several exchanges allegedly violating securities laws.
- Hirsch’s departure comes amid growing attention toward crypto on the campaign trail, with the SEC’s crackdown on crypto being referenced by former president Donald Trump, who criticized the agency’s “hostile” behavior toward the industry.
David Hirsch, who previously led the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement, announced on LinkedIn that last Friday was his last day at the agency after serving for nine years.
Hirsch’s Background at the SEC
Hirsch stepped in to lead the unit in October 2022 as the crypto market was dealing with major collapses like FTX. Before that, he started at the SEC in 2015 as an enforcement attorney in Fort Worth, Texas.
In a LinkedIn post, Hirsch said he was excited for new challenges but did not reveal his next plans. He said he would share more details after taking personal time with family.
The SEC’s Crypto Crackdown
During Hirsch’s tenure, the SEC embarked on an aggressive campaign targeting crypto companies behind major blowups like Terraform Labs and exchanges accused of securities violations like Coinbase, Binance and Kraken.
Last year, Hirsch praised the SEC’s lawsuit against Coinbase as an “excellent investigation.” He also applauded actions against Binance and Kraken. While Kraken settled, cases against Coinbase and Binance are still ongoing.
Hirsch Leaves Amid Greater Crypto Scrutiny
Hirsch’s departure comes as crypto draws more campaign trail attention ahead of November’s elections. Analysts cited political pressure as a factor in the SEC approving spot Ethereum ETFs in May despite its crypto crackdown.
Former President Trump has blasted the SEC’s behavior and said crypto companies are leaving the U.S. “because of hostility towards crypto.” Trump said he would embrace crypto and “let them be here.”
Conclusion
After nearly doubling the crypto enforcement unit during his tenure, Hirsch is moving on from the SEC after years of high-profile actions against crypto firms. He led the charge as the agency took an aggressive stance toward the industry.
