Ex-head of SEC becomes consultant to cryptocurrency company

August 25, 2021


Ex-head of SEC becomes consultant to cryptocurrency company

Institutional-oriented custodial company Fireblocks has announced that former US Securities and Exchange Commission (SEC) chairman Jay Clayton has become a member of its Advisory Board.

Today, we’re excited to welcome Jay Clayton, former chairman of the @SECGov, to the Fireblocks Board of Advisors! https://bit.ly/3APyefo [1/2]

https://twitter.com/FireblocksHQ/status/1428347982966046720

The firm expects that his experience will help "Fireblocks and its clients in defining the support requirements, development and deployment of solutions for the emerging digital asset infrastructure".

"Fireblocks will benefit greatly from having Jay on the Advisory Board, given his expertise in many aspects of the financial sector. He will help further improve the safety and security of Fireblocks infrastructure for capital markets participants and investors," said co-founder and CEO Michael Shaulov.

Clayton said he shares Firblocks' view that storing digital assets requires the same level of service as traditional custodial services. 

"I appreciate the company's commitment to improving all aspects of the asset storage and transfer ecosystem, as well as the team's level of engagement with existing industry players who have a robust regulatory infrastructure, and with new players in the space," the former SEC chief added.

He stepped down as chairman of the Commission on December 23, 2020. The day before, the regulator filed a lawsuit against Ripple. The agency accused the fintech company and its executives of selling $1.3 billion in unregistered securities in the form of XRP tokens.

The case continues under the new head of the SEC, Gary Gensler, who was confirmed by the Senate on April 14.

Recall that Fireblocks' market valuation reached $2 billion after a $30 million Series D funding round completed in July.

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Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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