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A report from Reuters earlier this month claimed that the SEC's former chief of enforcement clashed with agency leadership over cases involving those in Trump's orbit before resigning.Two Democratic senators are requesting answers from the US Securities and Exchange Commission over the resignation of its enforcement director, Margaret Ryan, in March, after a Reuters report claimed she clashed with the agency’s leaders over certain cases involving people with ties to US President Donald Trump.
from Senator Elizabeth Warren has also questioned the SEC over the director’s resignation and whether Ryan “faced resistance” from SEC leadership over certain cases tied to Trump’s circle.Blumenthal claimed the SEC “may have exercised preferential treatment for financial partners of President Trump against the advice and warnings of senior staff when the agency declined to litigate credible fraud cases.” Blumenthal is seeking “all records and communications” between the Division of Enforcement and SEC senior leadership since Jan. 20, 2025, relating to potential enforcement actions against crypto companies. The Democratic senator also wants records of the SEC’s communications with the Trump and Witkoff families, as WLFI is led by Zach Witkoff and Trump’s three sons, Eric, Donald Jr. and Barron, were three of the company’s founding members.Blumenthal said illicit crypto activity surged to $154 billion in 2025, Trump’s first year back in office, alleging that Sun’s Tron played an “outsized role in this dynamic.” “While Tron accounts for a third of all payment tokens in the crypto ecosystem by some metrics, 58% of all illicit finance in crypto occurred on Tron’s network in 2024,” he said. “This is a clear example of how President Trump’s blatant crypto corruption creates back doors for his family’s business partners, creating a pay-to-play enforcement regime that turns a blind eye to grave threats to national security and consumer protection.”Warren’s letter, meanwhile, called Ryan’s short term at the SEC “troubling.” “Reports that Judge Ryan was not given the latitude to enforce the law against allies of President Trump fit into a broader narrative that has marked your tenure as SEC Chair: if you have the ability to pay or have connections to the President, you can act with impunity.” While the SEC hasn’t publicly commented on Ryan’s departure, a spokesperson for the agency told Cointelegraph last week that it would continue to make “enforcement decisions based on facts, the law, and policy — not politics.”Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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