Crypto division head at SEC steps down
In a recent development, David Hirsch, who had been leading the Securities and Exchange Commission's (SEC) crypto unit since October 2022, has announced his departure from the regulatory body. However, he has denied rumours circulating on LinkedIn about his alleged joining of Pump.Fun, a memecoin launch platform, as head of trading.
Hirsch's tenure at the SEC saw the commission make significant strides in positioning itself as the government's primary cryptocurrency enforcer. During his time, the SEC waged wars against crypto firms such as Binance and Coinbase. Last week, the SEC settled with Terraform Labs and its founder Do Kwon for $4.47 billion, marking a significant victory in the commission's efforts to regulate the crypto space.
Prior to leading the crypto unit, Hirsch spent two years as counsel to SEC Commissioner Caroline Crenshaw. He began his career at the SEC as an enforcement attorney in the Fort Worth regional office in 2015.
Despite the rumours, no information has been provided about Hirsch's new job or professional endeavours following his departure from the SEC. A search for his alleged new employer on various platforms has yielded no results.
Pump.Fun had posted about Hirsch's supposed hiring on social media site X, but Hirsch himself has not made any official announcement regarding his future plans. In a recent statement, Hirsch expressed his excitement for a break and travel with his family before his son heads to college in the fall.
The SEC has not yet announced a replacement for Hirsch as head of the crypto unit. It remains to be seen who will lead the commission's efforts to regulate the rapidly evolving cryptocurrency market.
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