Damian Williams, U.S. Attorney Behind SBF Conviction, to Resign

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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November 26, 2024 13:22 EST

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Damian Williams, the United States Attorney for the Southern District of New York, announced on November 25 that he will resign from his position effective December 13.

Williams, who led the conviction of FTX founder Sam Bankman-Fried after the collapse of the crypto exchange, is stepping down following a tenure marked by high-profile prosecutions.

Williams Secured Bankman-Fried Conviction After FTX Scandal

Appointed by President Joe Biden in 2021, Williams played a central role in prosecuting major cases, including the fraud trial of Sam Bankman-Fried.

The 2023 trial lasted just over a month and featured testimony from former executives of FTX and Alameda Research, culminating in Bankman-Fried’s conviction on all charges.

This case is considered a pivotal moment for the digital asset industry, establishing a framework for future federal crypto prosecutions.

Williams also secured convictions in other high-profile cases, such as the corruption trial of New Jersey Senator Bob Menendez.

His record as U.S. Attorney has been recognized for its rigor and commitment to legal accountability.

In his resignation statement, Williams praised the office’s culture, saying, “Today is a bittersweet day for me, as I announce my resignation as United States Attorney for the Southern District of New York. That success is due to the career attorneys, staff members, and law enforcement agents of this office.”

Transition to New Leadership

Williams’ resignation takes effect on December 13, and Deputy United States Attorney Edward Y. Kim is set to take over the role.

Kim, a seasoned prosecutor, is expected to carry on the office’s legacy of handling complex federal cases.

Meanwhile, President-elect Donald Trump has nominated former SEC Chair Jay Clayton as the next U.S. Attorney for the Southern District of New York.

Clayton, who led the SEC during Trump’s first term, has extensive experience in digital asset regulation.

In a Truth Social post on November 14, Trump stated, “Jay Clayton, of New York, the Chairman of the U.S. Securities and Exchange Commission during my first term, where he did an incredible job, is hereby nominated to be the U.S. Attorney for the Southern District of New York.”

What Williams’ Departure Means for the Future of the SDNY

Williams’ resignation marks the end of a consequential tenure in one of the nation’s most prominent prosecutorial offices.

With Edward Y. Kim set to assume leadership and Jay Clayton potentially taking on the role in the near future, the Southern District of New York will remain a key player in tackling complex legal challenges, including those in the cryptocurrency industry.