- Three Democratic SEC commissioners, including Jaime Lizárraga, stated he informed President Joe Biden of his departure intentions.
- Lizárraga made his statement one day after Gary Gensler, the chair of the SEC, announced his own resignation in January.
Jaime Lizárraga, a senior leader at the U.S. Securities and Exchange Commission, announced his intention to depart the organization early in the upcoming year.
Joe Biden announced his intention to depart by the end of January. The revelation was initially reported by Bloomberg Law on Friday. Lizárraga informed Bloomberg that he is departing in order to spend more time with his wife, who is battling breast cancer, and his family.
Over the course of much of this year, my wife, Kelly, has bravely and resolutely fought a terrible illness. We appreciate the help from friends, family, and coworkers, and we wish her a quick and complete recovery in the months ahead.
A day before to Lizárraga’s announcement, SEC Chair Gary Gensler announced his own resignation in January. Commissioner Caroline Crenshaw is now the only Democrat in charge of the SEC. After the 2008 financial crisis, Gensler and Lizárraga worked together at the SEC and the U.S. Department of Treasury.
He has remained unwaveringly committed to advancing the interests of regular Americans throughout his career. He has been a great collaborator at the SEC as we have worked to safeguard investors, promote capital formation, and make sure markets benefit both issuers and investors.
Although Lizárraga did not speak out much about the cryptocurrency industry, she did make comments about it over the years. In a speech on November 16, 2022, the commissioner made the case that the market for digital assets lacked sufficient openness. The speech was delivered a few days after cryptocurrency exchange FTX declared bankruptcy due to claims of wrongdoing and fraud.
The value of digital assets fluctuates a lot. The previous 2022 crypto winter, along with events that occurred this past week and even today, demonstrated how erratic the digital asset market can be.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
