Following the removal of Attorney General Pam Bondi, President Donald Trump has announced that Todd Blanche will take over as the head of the US Department of Justice. Blanche, who previously served as Trump's attorney in a New York criminal case, was appointed as Deputy Attorney General after Trump's re-election in 2024.
As Deputy Attorney General, Blanche dismantled the National Cryptocurrency Enforcement Team, a unit established in 2022 during the presidency of Joe Biden, and issued a memo directing prosecutors to refrain from pursuing regulatory violations within the cryptocurrency industry. This move had significant implications, including the dropping of a charge against Roman Storm, the developer of Tornado Cash, in a case handled by the Southern District of New York office. According to Blanche's latest government ethics disclosure, dated July 10, 2025, he transferred his cryptocurrency holdings, including Bitcoin, Solana, ADA, and Ethereum, to his children and a grandchild.
The disclosure also revealed that he had held other cryptocurrencies, such as Polygon, DOT, Quant, and Coinbase stock. However, as reported by ProPublica, Blanche still held these assets, valued between $159,000 and $485,000, when he signed the enforcement memo, which raised concerns about ethics violations and his pledge to divest from crypto-related matters.