The Departure of SEC Crypto Asset Enforcement Chief David Hirsch

David Hirsch, the SEC crypto asset enforcement chief, recently announced his departure from the agency after serving for almost nine years. During his time at the agency, Hirsch led the Crypto Assets and Cyber Unit team and oversaw numerous cases related to cryptocurrencies.

Hirsch started leading the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement in October 2022. His tenure was marked by the agency’s involvement in at least 45 crypto cases. Prior to this role, he worked as an enforcement attorney at the SEC’s Fort Worth Regional Office from 2015 to the present.

Following his departure, memecoin launchpad Pump.fun made false claims about Hirsch’s involvement with their project. They stated that Hirsch had joined the project after months of conversations and had launched over 100 coins. However, Hirsch denied these claims, calling them false and inaccurate.

Response from Hirsch and the Media

In response to Pump.fun’s statements, Hirsch clarified that he had not been involved with the project and refuted their claims. The false information spread by Pump.fun was criticized by Fox Business reporter Eleanor Terrett, who referred to it as “cringe-worthy fake news.” Terrett also highlighted the strict regulations within the SEC that prohibit staff from holding cryptocurrencies while serving at the agency.

After announcing his departure from the SEC, David Hirsch mentioned that he would share more about his future plans soon, following a personal break. His exit from the agency marks the end of nearly a decade-long career dedicated to enforcing regulations in the crypto asset space.

David Hirsch’s departure from the SEC signals the end of an era in the agency’s Crypto Asset and Cyber Unit. His leadership and involvement in various crypto cases have left a lasting impact on the enforcement efforts related to cryptocurrencies. The false claims made by Pump.fun only serve to highlight the need for accurate information and transparency in the crypto industry. David Hirsch’s future plans remain to be seen, but his contributions to the regulatory landscape of crypto assets will not be forgotten.