The Manhattan U.S. Attorney's Office plans to reduce its focus on cryptocurrency-related cases following several high-profile convictions, including that of FTX founder SBF.
This decision aligns with the anticipated appointment of Jay Clayton, former SEC chair under President Trump, as the new U.S. Attorney for the Southern District of New York, replacing Damian Williams. Clayton's tenure at the SEC was marked by a less aggressive stance on cryptocurrency regulation compared to current chair Gary Gensler.