David Hirsch, the head of the Securities and Exchange Commission’s (SEC) Crypto Asset and Cyber Unit, has stepped down after nearly a decade of service.
Hirsch, who began at an SEC regional office as a staff attorney, has been at the forefront of the agency’s efforts to navigate the complex landscape of cryptocurrency enforcement.
His departure comes at a critical juncture for the SEC, as the regulatory body faces increasing political pressure and the spotlight intensifies with the approach of the presidential elections.
Hirsch’s resignation, announced via LinkedIn on Monday was followed by a rumor that he had joined memecoin launch platform Pump.Fun as head of trading.
Hirsch shut down the confusion by responding to a comment on his LinkedIn announcement.
“This claim by pumpdotfun is false,” Hirsch said.
Hirsch’s tenure at the SEC has been marked by a series of high-profile enforcement actions within the cryptocurrency space.
His leadership has seen the Crypto Asset and Cyber Unit grow in importance as the SEC grapples with the task of defining and enforcing regulations in a rapidly evolving digital landscape.
Hirsch’s departure follows a pattern of key personnel changes within the SEC’s enforcement division, including the recent move of former SEC lawyer Ladan Stewart to a private law firm.