Wall Street's "top cop" resigns to make way for Trump's deregulation

Odaily News Manhattan U.S. Attorney Damian Williams announced that he plans to resign on December 13, and his deputy Edward Kim will temporarily take over other positions. After Trump was elected as the President of the United States on November 5, he announced that he would nominate Jay Clayton, the former chairman of the U.S. Securities and Exchange Commission (SEC), to manage the Manhattan Prosecutor's Office. The Southern District of New York is known as the sovereign district for its independent status and has handled many well-known financial fraud cases. During Williams' tenure, he completed the prosecution of SBF, the founder of the former cryptocurrency exchange FTX, and Bill Hwang, the founder of the family office Archegos.