Ladan Stewart, an attorney known for representing the U.S. Securities and Exchange Commission (SEC) in enforcement actions against Ripple, has transitioned to a law firm that frequently defends cryptocurrency companies. In a statement released on February 21, the law firm White & Case announced Stewart's addition as a partner in their New York office, citing her extensive experience in cryptocurrency enforcement cases. Stewart notably contributed to the SEC's lawsuit against Ripple, filed in December 2020, and concluded her role as counsel of record in January following her departure from the SEC.
Joel Cohen, the global head of white collar practice at White & Case, emphasized Stewart's significant value to the firm, particularly in light of the increased regulatory scrutiny surrounding the crypto industry. He underscored Stewart's recent leadership as the head of the SEC's dedicated cryptocurrency and cyber litigation unit, highlighting her role as a crucial asset for advising and safeguarding crypto industry participants amidst regulatory challenges.
White & Case has a history of representing various cryptocurrency companies in significant cases, including those involving the SEC. One of the firm's partners oversaw FTX's operations in the Bahamas on behalf of the provisional liquidators after the exchange's collapse in November 2022. Additionally, White & Case lawyers have appeared before the official committee of creditors for Celeste, another notable case involving cryptocurrency.
Nicole Erb, a partner at White & Case, emphasized Stewart's potential to provide valuable counsel to cryptocurrency companies, drawing from her extensive experience within the SEC's enforcement division. Stewart's ability to understand regulatory frameworks and anticipate the SEC's approach positions her as a valuable resource for clients navigating regulatory scrutiny.
While Stewart acknowledges potential conflicts of interest arising from her prior work at the SEC, she aims to manage them effectively. She views her transition to the private sector as an opportunity to share unique expertise and insights gained from her tenure at the SEC. Stewart's previous responsibilities at the Commission included handling lawsuits against Ripple, former FTX CEO Sam Bankman-Fried, and Coinbase, among others. Prior to joining White & Case, she served as a consultant in the Commission's executive department for approximately eight years.
