David Hirsch, a top executive at the United States Securities and Exchange Commission (SEC), has announced his resignation after nearly nine years of service. Hirsch, who served as the head of the Crypto Asset and Cyber Unit in the Division of Enforcement, took to LinkedIn to share the news of his departure.

Hirsch's tenure at the SEC was marked by significant achievements, including his work on complex and challenging investigations and issues. He began his journey with the agency as a staff attorney in the Fort Worth Regional Office and eventually rose to the position of head of the Crypto Asset and Cyber Unit.

In his farewell message, Hirsch praised the work done by his unit, describing it as "historic." He also promised to disclose his future plans after taking a short break.

The SEC has been facing an exodus of staff, with Ladan Stewart, a former lawyer known for litigating high-profile cases against Ripple and Coinbase, resigning from the SEC's enforcement division after eight years. Stewart joined the White & Case LLP as a partner.

The departures have not deterred the SEC from discharging its duties, and the agency has intensified its efforts to push out crypto firms that violate federal securities law. The regulator recently requested that Terraform Labs and its founder Do Kwon pay $3.58 billion in disgorgement and $420 million in a civil penalty, totaling $4.47 billion. The fine is a significant challenge for the crypto company, which has only $75 million in Assets Under Management (AUM) to pay.

The SEC has also requested a massive fine of $2 billion from blockchain payments firm Ripple, which has argued that the amount is too high. The agency's request for an unprecedented $2.4 billion budget to expand its staff by 170 positions, particularly in the crypto and cyber unit, has also raised eyebrows.