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