REGULATION

SEC's former head of crypto assets resigns, refutes rumors of joining meme coin issuance platform Pump.fun

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SEC

Yesterday, rumors about former SEC cryptocurrency chief David Hirsch resigning circulated widely, with speculations of him joining the meme coin issuance platform Pump.fun team. The rumors reportedly originated from a sarcastic post on social media platform X by Pump.fun, congratulating him on becoming the team's trading chief, which was then picked up and shared by various media outlets.

Pump.fun's False Alarm

On the evening of the 17th, as the meme coin issuance platform Pump.fun released a tweet on Solana, rumors about former SEC Cryptocurrency and Cyber Unit head Hirsch joining Pump.fun began to spread.

Pump.fun claimed that Hirsch is set to take on a new role as "Trading Director" within the team, detailing his responsibilities and citing the reason:

After months of discussions with the team, David realized that his regulatory work no longer fulfilled him, prompting him to embark on a new chapter.

The team also emphasized that David has even released over 100 tokens himself, but this is not the limit. They claim that the new internal trading department at Pump.fun, under David's leadership, will launch over 1,000 tokens daily.

Faced with this claim, the crypto community remains skeptical, with some users joking:

Should've gone for Gary Gensler, but David is not a bad choice either.

At the time, the tweet was even quoted in a report on Binance News, further confusing and intensifying community skepticism.

Article by Binance regarding Pump.fun tweet, now deleted

Hirsch Debunks Rumors: Next Stop Not a Meme Coin Platform

Responding to inquiries from netizens, Hirsch promptly denied any connection to Pump.fun's statements about him:

Hirsch's response to Pump.fun rumors

I have not decided on my next job yet, but I can confirm it will not be a position related to meme coin platforms.

He clarified, "I have not joined the Pump.fun team in any capacity."

Joking Gone Too Far?

Some users also joked that fabricating rumors may attract government attention:

Hold on, folks, the federal government is coming.

Whether authorities will pay a visit remains to be seen, but one thing is certain: the crypto community will not miss out on this event. Since the news broke, over 20 meme tokens related to David Hirsch have appeared on the Pump.fun platform.

Senior SEC Official Resigns

Reportedly, Hirsch has been working as a lawyer at the SEC since 2015 and became head of the SEC's Cryptocurrency and Cyber Unit in 2022.

In a resignation post on LinkedIn, he stated:

I am very excited for the challenges ahead and look forward to sharing more news with everyone soon. But for now, I want to rest and travel with my family before my son goes off to college.