Damian Williams, the prosecutor investigating the case of Sam Bankman-Fried from FTX, may be planning to leave the Southern District Court of New York before Trump takes office in January.
Early reports indicated that Trump plans to replace Williams with Jay Clayton, former SEC chair.
Prominent Crypto Cases Under Damian Williams
Williams was appointed in 2021 under President Joe Biden. Since then, he has led some of the most prominent cryptocurrency fraud prosecutions in recent years. His office has played a crucial role in holding cryptocurrency executives accountable following the industry's turmoil in 2022.
According to reports from Bloomberg, Deputy Prosecutor Ed Kim will temporarily assume the role of U.S. Attorney until an official replacement is made.
Trump has expressed sympathy for Adams in the context of the prosecution — which was driven by personal political grievances — and he plans to fire U.S. Attorney Damian Williams, who charged Adams with corruption and federal bribery, WNYC wrote in a post on X (formerly Twitter).
During his tenure, Williams prosecuted Sam Bankman-Fried, former CEO of FTX. Bankman-Fried was convicted on all seven counts and sentenced to 25 years in prison.
Earlier this year, Caroline Ellison was also sentenced to two years in prison for her role in the collapse of FTX. Ellison received a reduced sentence due to her cooperation in Bankman-Fried's trial.
In 2023, Williams's team also achieved a breakthrough conviction in an insider trading case involving a former product manager at OpenSea, the NFT marketplace. Previously, they secured a guilty plea in a similar case from a former employee of Coinbase.
These prosecutions are the first to target insider trading in the digital asset space.
Beyond the scope of crypto, Williams's office has conducted a broad investigation into block trading activities. Williams's expected departure aligns with the usual replacement of U.S. Attorneys under new administrations.
However, the decision to leave before Trump's official request allows him to depart on his own terms. This decision may be to preserve his legacy defined by a vigorous pursuit of cryptocurrency crime.
Trump Continues to Favor Crypto-Friendly Candidates
Just before his presidential term begins in January, Trump's transition team is also considering several crypto-friendly candidates for key financial regulatory roles. The incoming president is weighing three candidates to replace current SEC chair Gary Gensler.
As reported earlier by TinTucBitcoin, Trump is also considering appointing Brian Brooks, former CEO of Binance.US, to some regulatory roles. Meanwhile, rumors have emerged that the incoming president may be looking to acquire Bakkt, a leading b2b digital asset platform.
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