On June 17, SEC crypto asset enforcement chief David Hirsch announced his departure from the agency after serving for almost nine years. He expressed pride in the work done by the Crypto Assets and Cyber Unit team under his leadership.
Hirsch took on the role of leading the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement in October 2022. During his tenure, the agency handled approximately 45 crypto cases. Prior to this position, he worked as an enforcement attorney at the SEC’s Fort Worth Regional Office and also served as counsel to SEC Commissioner Caroline Crenshaw, known for her critical views on crypto.
Following his departure, Hirsch mentioned that he would share more information about his future endeavors after taking a personal break. However, he refuted false claims made by memecoin launchpad Pump.fun, which stated that he had joined their project and launched over 100 coins. Hirsch categorically denied these allegations, calling them false.
The false statements made by Pump.fun were met with criticism, with Fox Business reporter Eleanor Terrett describing them as “cringe-worthy.” It is important to note that SEC staff are prohibited from holding crypto assets while working at the agency, highlighting the seriousness of the situation.
David Hirsch’s departure from the SEC marks the end of a significant chapter in his career. While he looks forward to new opportunities ahead, the false claims made against him serve as a reminder of the challenges and scrutiny faced by individuals working in the crypto space. The need for transparency and accountability remains crucial in preserving the integrity of the industry.
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