President Donald Trump announced on June 13 his intention to nominate James M. McDonald as the US attorney for the Southern District of New York, placing a veteran financial regulator and crypto-industry advisor at the helm of the most consequential federal prosecutor’s office in America.
The move comes just two days after Trump nominated Jay Clayton, the previous SDNY occupant, for Director of National Intelligence. McDonald’s background reads like a highlight reel tailor-made for anyone tracking the intersection of law enforcement and digital assets.
A resume built for this moment
McDonald is currently a partner at Sullivan & Cromwell, one of Wall Street’s most storied law firms. Before that, he served as Director of Enforcement at the Commodity Futures Trading Commission from 2017 to 2020.
McDonald spearheaded multiple task forces during his tenure, including one specifically dedicated to digital assets. After leaving government, his Sullivan & Cromwell work kept him squarely in the crypto orbit. The firm advised clients including BlockFi, the crypto lending platform that ultimately filed for bankruptcy in November 2022 after exposure to FTX’s collapse. Sullivan & Cromwell itself became deeply involved in the FTX bankruptcy proceedings, serving as counsel to the estate.
