Securities and Exchange Commission (SEC) Commissioner Jaime Lizárraga has announced his resignation, effective late January 2025. This follows the announcement of SEC Chair Gary Gensler’s departure, also scheduled for January, leaving the commission with only one Democratic commissioner, Caroline Crenshaw.
Lizárraga cited personal reasons for his departure, stating his desire to spend more time with his family, particularly his wife, who is battling breast cancer. In a statement released Friday, he expressed gratitude for the support received during this challenging time and hope for his wife’s full recovery.
Lizárraga’s announcement, initially reported by Bloomberg Law, marks another significant shift in leadership at the SEC. Gensler, in a statement acknowledging Lizárraga’s impending departure, praised his colleague’s dedication to serving the interests of everyday Americans throughout his career, both at the SEC and previously at the U.S. Department of the Treasury following the 2008 financial crisis. Gensler highlighted Lizárraga’s contributions to investor protection, capital formation, and ensuring fair market practices.
While not a prominent voice on cryptocurrency specifically, Lizárraga has commented on the sector, particularly regarding its lack of transparency. In a November 2022 speech, delivered shortly after the FTX collapse, he emphasized the volatility of digital asset markets and the risks they pose to investors. He cited the recent “crypto winter” and the events surrounding FTX’s bankruptcy as evidence of the market’s instability.
