Key TakeawaysClayton has joined the advisory council of One River Digital Asset Management, which oversees Bitcoin investments. The investment firm itself owns over $600 million of Bitcoin. After ending his term as chair of the SEC, Jay Clayton is returning to legal roles in various locations.
Share this article
Former SEC chair Jay Clayton has joined the advisory council of One River Digital Asset Management, a digital asset investment firm.
Clayton Now Advisor at Crypto Company
Jay Clayton, who served as chair of the U.S. Securities and Exchange Commission between May 2017 to December 2020, has taken advisory roles at multiple firms.
Most recently, he has been appointed to the advisory council of One River Digital Asset Management, a prominent crypto investment firm.
Clayton said about One River CEO Eric Peters: “We were impressed by Eric’s willingness to hear our varying views on the digitization of our monetary, banking, and capital markets ecosystem and One River’s commitment to transparency.”
Clayton is regarded as one of the crypto industry’s top villains because the SEC declined to approve Bitcoin ETFs under his leadership. Under Clayton, the SEC also made it harder for startups to run ICOs and most other types of initial tokens sales.
However, Clayton’s willingness to work with Bitcoin-adjacent firms should not be entirely surprising, given that he stated that Bitcoin is not a security in 2018. Unlike other cryptocurrencies, Bitcoin never went through an ICO or any other fundraiser.
Along with serving on One River’s advisory council, Clayton will rejoin his former law firm Sullivan & Cromwell LLP as a policy council advisor. He will also act as non-executive Chair of Apollo Global Management Inc. and serve as Adjunct Professor at the University of Pennsylvania Carey Law School.
One River’s Cryptocurrency Bet
Prior to the economic crisis resulting from the response to COVID-19, One River CEO Eric Peters focused his strategy based on volatility, bringing in returns of around 35% in 2020.
The firm has made significant investments in Bitcoin. In November, it announced a $600 million Bitcoin purchase. In recent statements, Peters additionally confirmed that One River plans to increase its Bitcoin and Ethereum holdings to $1 billion in the first half of 2021.
One River has also received financial backing from the Brevan Howard Asset Management Fund and Ruffer LLP.
At the time of writing this author held Bitcoin and less than $15 of altcoins.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
$322 Million: How The SEC Should Settle With Ripple Labs Over XRP
The U.S. Securities and Exchange Commission handed down a $24 million slap on the wrist to Block.one for allegedly selling unregistered securities in its $4 billion ICO, begging the question:…
Biden Will Name Gary Gensler as SEC Chairman
President-elect Joe Biden has confirmed that he will name Gary Gensler as the next chairman of the U.S. Securities and Exchange Commission (SEC) in a new announcement. Gensler Will Become…
What is Dogecoin?
So what is the story behind DOGE? How did it become the asset of choice for a group of anti-establishment retail traders in January 2021, and what are the chances…
CFTC Chairman Who Declared ETH a Commodity to Resign
Heath P. Tarbert announced his plans to step down as the Commodity Futures Trading Commission (CFTC) chairman in early 2021. “Today, I am announcing that I intend to resign my…