Donald Trump nominates James M. McDonald as US attorney for Southern District of New York
President Donald Trump nominated James M. McDonald, a former CFTC enforcement chief and crypto-sector advisor, as U.S. attorney for the Southern District of New York on June 13. McDonald, a partner at Sullivan & Cromwell, previously led digital asset task forces at the CFTC and advised clients like BlockFi amid FTX’s 2022 collapse. The SDNY, known for prosecuting high-profile financial fraud cases, could shape crypto enforcement under his leadership.
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McDonald’s deep CFTC crypto enforcement experience raises the odds the SDNY pursues more crypto-related fraud cases, but base rates from past SDNY crypto prosecutions (e.g., average ~3–4 per year since 2020) suggest any surge would likely be incremental rather than a step-change unless broader DOJ priorities shift.