US Attorney Damian Williams to Step Down Before Trump’s Inauguration
Damian Williams, the current United States Attorney for the Southern District of New York, has revealed plans to resign prior to the inauguration of President-elect Donald Trump, who is anticipated to recommend a successor.Williams, who has led the office since 2021, will make his official exit on December 13.
Leadership Transition
In the wake of Williams’ departure, Deputy US Attorney Edward Y. Kim will step in as acting US Attorney until the Senate confirms a new appointee.The Justice Department announced Williams’ resignation intentions in a notice issued on November 25. Throughout his tenure, Williams spearheaded high-profile criminal investigations targeting cryptocurrency executives.
Notably, he led the case against Sam Bankman-Fried, the former CEO of FTX, alongside other individuals connected to the exchange and Alameda Research.
Future Direction of the Office
Williams, appointed by President Joe Biden and confirmed by the Senate, is expected to be succeeded by Jay Clayton.Clayton previously served as the chair of the Securities and Exchange Commission (SEC) and has deep ties to Wall Street firms, including Goldman Sachs.
Trump announced Clayton’s nomination on November 14.
Since leaving the SEC in 2020, Clayton has been affiliated with the digital assets firm Fireblocks as an advisor. The Southern District of New York has a legacy of prosecuting significant financial fraud cases, including notorious scams such as OneCoin.
The leadership of the US Attorney’s office is pivotal in influencing the strategy toward criminal cases in the cryptocurrency and blockchain arenas.
Ongoing Legal Proceedings
Clayton’s potential confirmation brings uncertainty about the office’s future direction.Recently, Scott Hartman, a member of the office’s fraud task force, suggested that the focus of prosecutions might decrease regarding cryptocurrency-related enforcement. In the meantime, eyes are on the upcoming trial of former Celsius CEO Alex Mashinsky, who faces criminal charges and is set to appear in court on January 28.
This trial is likely to take place after Trump takes office but before any new US Attorney is confirmed. Despite recent controversies involving some of Trump’s nominees—including figures like Robert F. Kennedy Jr. and Pete Hegseth—Republican senators have expressed considerable support for these candidates, suggesting a strong backing for the incoming administration’s appointees. “`html
Source: Cointelegraph.com
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