President Donald Trump has announced his intention to appoint James M. McDonald as the next U.S. Attorney for the Southern District of New York, a move that could have significant implications for the crypto industry.
McDonald, an Oklahoma native and former Assistant U.S. Attorney in the district, has deep experience with cryptocurrency cases. He served as Director of Enforcement at the Commodity Futures Trading Commission (CFTC) during Trump's first term, overseeing investigations, market surveillance, and the whistleblower office.
After leaving the CFTC, McDonald joined Sullivan & Cromwell as a partner in 2021, where he has represented exchanges and individuals across the crypto sector in government investigations. He was involved in BlockFi's settlement with the SEC and 52 states and territories.
The Southern District of New York is a major hub for cryptocurrency cases, having prosecuted high-profile figures such as Sam Bankman-Fried, Alex Mashinsky, and those behind the OneCoin scheme.