Chief of SEC's Crypto Enforcement Division, David Hirsch, Resigns After Nearly a Decade of Service

David Hirsch, the Chief of the Crypto Asset and Cyber Unit at the US Securities and Exchange Commission (SEC), has left the agency after nearly nine years of service.

Hirsch announced his departure on LinkedIn yesterday, June 17, 2024 stating:

“This past Friday was my last day with the SEC. During my time here, I worked on more complex and challenging investigations than I ever imagined when I joined as a staff attorney in the Fort Worth Regional Office. I am particularly proud of the historic work done by the Crypto Assets and Cyber Unit team I had the privilege to lead.”

Before his promotion to Chief of the Crypto Asset and Cyber Unit in the Division of Enforcement, Hirsch held several notable roles at the SEC. He served as an Enforcement Attorney in Fort Worth and spent over two years as Counsel to Commissioner Caroline Crenshaw.

Hirsch’s leadership at the SEC saw the agency aggressively pursue high-profile enforcement actions against major cryptocurrency exchanges and DeFi projects. Among the most notable cases were actions against Coinbase, which the SEC accused of trading unregistered securities.

Hirsch’s resignation comes at a critical juncture, coinciding with potential regulatory changes in the crypto sector and increasing political pressure on the SEC. His departure is part of a broader pattern of key personnel changes within the agency’s enforcement division. Notably, President Joe Biden renominated Hirsch’s former boss at the agency, Crenshaw, for a second term as Commissioner, a move which has sparked significant debate within the cryptocurrency community.

Shortly after announcing his resignation, rumours surfaced that Hirsch had joined Pump.Fun, a Solana-based memecoin launch platform, as head of trading.

Hirsch quickly refuted these claims, stating they were false and that he had not yet announced his next career move. He reportedly stated: