David Hirsch, the head of the Securities and Exchange Commission’s (SEC) crypto asset and cyber unit, has announced his departure from the agency. Hirsch, who played a crucial role in shaping the SEC’s approach to cryptocurrency regulation, revealed his exit on LinkedIn on Monday.
“This past Friday was my last day with the SEC after almost 9 years. 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,” Hirsch stated in his post.
This development comes amid changes within the SEC, including the resignation of two lead attorneys and the planned closure of the Salt Lake Regional Office. Hirsch’s exit may impact the agency’s ongoing efforts to regulate the cryptocurrency market, and industry observers will closely watch his successor’s approach.
David Hirsch also expressed his pride in the groundbreaking work accomplished by the Crypto Assets and Cyber Unit, acknowledging the invaluable guidance and support he received from numerous mentors, including leaders, colleagues, friends, and partners across state, federal, and international law enforcement agencies. While he didn’t disclose his future plans, Hirsch conveyed his enthusiasm for the upcoming opportunities, stating that he is “eager to embrace the next set of challenges” and looks forward to sharing more details about his future endeavors soon.
David Hirsch’s Career in SEC
David Hirsch joined the Securities and Exchange Commission (SEC) in 2015 as an enforcement attorney, where he investigated potential violations of federal securities laws. He later served as counsel to Commissioner Caroline Crenshaw in 2020, providing legal guidance and support.
In 2022, he was appointed as the chief of the crypto asset and cyber unit in the Division of Enforcement, a position he held until his recent departure. During his tenure, Hirsch led the SEC’s enforcement actions against cryptocurrency exchanges and decentralized finance (DeFi) projects, ensuring compliance with securities laws. While acknowledging the agency’s heavy litigation load, he emphasized the SEC’s commitment to pursuing violations in the crypto space.
His tenure was marked by notable enforcement actions, including 13 charges against Binance and its founder, Changpeng Zhao, and the approval of both Bitcoin and Ethereum spot ETFs. Throughout his tenure at the SEC, Hirsch played a crucial role in shaping the agency’s cryptocurrency regulation and enforcement approach.
David Hirsch Not Joining Pump.Fun
David Hirsch has refuted rumors of his alleged appointment as head of trading at Pump.Fun, a memecoin launch platform.
Following his departure from the SEC, speculation swirled about Hirsch’s next move with Pump.Fun fueling the rumors by announcing his supposed hiring on social media platform X. However, Hirsch swiftly dismissed the claims on LinkedIn, stating, “This claim by pumpdotfun is false.”
Instead, Hirsch revealed that he is looking forward to a break and spending quality time with his family before his son heads off to college in the fall. The former crypto enforcer’s next career move remains unknown, but it appears he is taking a well-deserved pause before his next chapter.
Mishael Nwani | July 1, 2024
