cryptojournalist
A Shift in Focus
Scott Hartman of the SDNY stated the office will reduce its focus on cryptocurrency crimes. At a Nov. 15 securities conference, he noted their previous work stemmed from the 2022 market collapse, which exposed significant fraud.
Major Cases Still Active
Despite this shift, high-profile cases like those against former Celsius CEO Alex Mashinsky and FTX executive Gary Wang are moving forward. Mashinsky’s trial is set for January 2025, while Wang will be sentenced on Nov. 20.
SEC’s Strong Stance
Meanwhile, the SEC continues pursuing enforcement actions against crypto firms, such as Coinbase and Ripple Labs. Chair Gary Gensler reaffirmed his commitment to regulating the industry, even as questions arise about his tenure under Trump’s administration.
Trump’s Nomination Raises Questions
Trump plans to nominate Jay Clayton for SDNY U.S. Attorney, sparking debate over bypassing Senate approval. Current U.S. Attorney Damian Williams, confirmed under Biden, remains in the position.
