Damian Williams, the U.S. Attorney for Manhattan, announced that he plans to resign on December 13, and his deputy Edward Kim will temporarily take over other duties. After Donald Trump was elected President of the United States on November 5, he announced he would nominate former SEC Chairman Jay Clayton to manage the Manhattan District Attorney's Office. The Southern District of New York is known for its sovereign status and has handled many high-profile financial fraud cases. During Williams' tenure, he completed prosecutions against the founder of the former cryptocurrency exchange FTX, SBF, and the founder of the family office Archegos, Bill Hwang.