Three months after leaving the U.S. Securities and Exchange Commission (SEC), Jay Clayton joined the advisory board of One River Asset Management Crypto Investment Manager, meaning a change of guard on the former SEC.
The company said Monday that Clayton, along with Kevin Hassett of the Lindsay Group and John Orszag of Compass Lexicon, will join the new academic and organizational board of One River Asset Management. While the exact role of Clayton in the advisory group has not been defined, One RIver CEO Eric Peters said his goal is to bring together prominent individuals with “diverse organizational and political backgrounds.”
“We were impressed by Eric’s willingness to listen to our differing views on the digitization of our monetary, banking and capital ecosystems, and One River’s commitment to transparency,” said Clayton.
Clayton spent three and a half years on the SEC before he retired on December 23, 2020. His term was determined by a massive increase in legal remedies, possibly exceeding $ 14 billion, and billions were returned to the aggrieved party. Investors.
It was also present during the bull market for cryptocurrencies recently, when the Bitcoin (BTC) craze reached major investors. In 2019, Clayton warned investors that they would be “very wrong” if they expected to trade cryptocurrency on major stock exchanges without stricter rules.
One River Asset Management became a major player in Bitcoin at the end of 2020, raising $ 600 million in cryptocurrencies. At the time, the company said it plans to acquire close to $ 1 billion in BTC and Ether (ETH) in the first half of 2021. These goals may have already been met given the rapid appreciation of cryptocurrencies this year.