Ripple and Coinbase Get a Boost? Top SEC Lawyer Switches Sides, Joins White & Case

In a major move, global law firm White & Case LLP has expanded its White Collar Practice by adding Ladan Stewart, a highly experienced US Securities and Exchange Commission (SEC) enforcement attorney and civil litigator with two decades of expertise, as its New York Partner.

Ladan Stewart’s latest role involved leading the SEC’s lawsuits against industry giants Coinbase and Ripple. This strategic addition was officially announced in a press release on February 21, 2024.

Global Recognition for Stewart’s Expertise

Joel M. Cohen, Global Head of White & Case’s Global White Collar Practice, praised Stewart’s extensive experience, particularly her recent leadership in the SEC’s specialized crypto and cyber litigation unit. Cohen emphasized the importance of her role in light of increased regulatory scrutiny in the crypto industry.

“Ladan’s most recent role as the head of the SEC’s specialized crypto and cyber litigation unit is a significant asset given the heightened regulatory scrutiny of the crypto industry in recent years.”

Building a Strong Defense

Stewart served for over eight years in the SEC’s Division of Enforcement, where she played a crucial role as Assistant Director and Regional Trial Counsel, leading the SEC’s crypto and cyber litigation unit. This unit, the first of its kind at the SEC, focused on tackling legal challenges in the rapidly evolving crypto industry.

Heading the SEC’s crypto and cyber litigation unit since September 2022, Stewart played a central role in litigations against major crypto entities, including Coinbase Global Inc. and Ripple. With plans to establish a robust crypto and cyber defense practice at White & Case, Stewart emphasized the lasting importance of crypto-related legal questions, stating, “Crypto is here to stay.”

SEC’s Crypto Play

Stewart’s move to White & Case introduces an intriguing dynamic, potentially impacting the SEC’s legal stance against crypto. One of its seasoned lawyers now supports crypto firms, signaling a notable shift in the legal landscape.

Post-Stewart’s addition, White & Case advised Fidelity International on structuring and launching its Fidelity Physical Bitcoin ETP. This marks Fidelity International’s entry into exchange-traded notes backed by cryptocurrencies, showcasing the fusion of legal expertise and financial innovation.

Read More: Crypto Vs. SEC: Ripple and Coinbase Fight Back Against Unclear Regulations

Strategic Investments: Welcome John Cahill!

Alongside Stewart, White & Case welcomed John Cahill, a corporate real estate specialist, to its New York office. These strategic additions underscore the firm’s commitment to strengthening key practices, including White Collar, solidifying its position in the competitive U.S. legal market.

White & Case LLP continues to make bold strides, positioning itself at the forefront of legal and financial innovation with these key hires.