Friday, May 14News That Matters

Jay Clayton Joins Bitcoin-Rich Asset Management Firm


After retiring from the SEC, Clayton has joined One River Digital Asset Management as an handbook.

Key Takeaways

  • Clayton has joined the advisory council of One River Digital Asset Management, which oversees digital asset investments.
  • The investment firm itself owns over $600 million of Bitcoin.
  • After ending his duration of time as chair of the SEC, Jay Clayton is returning to proper roles in varied locations.

Aged SEC chair Jay Clayton has joined the advisory council of One River Digital Asset Management, a digital asset investment firm.

Clayton Now Consultant at Crypto Firm

Jay Clayton, who served as chair of the U.S. Securities and Alternate Commission between Would possibly per chance 2017 to December 2020, has taken advisory roles at a number of corporations.

Most as we converse, he has been appointed to the advisory council of One River Digital Asset Management, a famed crypto investment firm and a subsidiary of One River Asset Management.

Clayton acknowledged about One River CEO Eric Peters: “We were impressed by Eric’s willingness to listen to our varying views on the digitization of our monetary, banking, and capital markets ecosystem and One River’s dedication to transparency.”

Clayton is concept to be indubitably one of many crypto industry’s top villains for the reason that SEC declined to approve Bitcoin ETFs beneath his management. Below Clayton, the SEC moreover made it more durable for startups to trudge ICOs and most varied styles of preliminary tokens gross sales.

Alternatively, Clayton’s willingness to work with Bitcoin-adjoining corporations must aloof now no longer be completely surprising, on condition that he acknowledged that Bitcoin is now no longer a security in 2018. Now not like varied cryptocurrencies, Bitcoin by no methodology went thru an ICO or any varied fundraiser.

Along with serving on One River’s advisory council, Clayton will rejoin his outmoded law firm, Sullivan & Cromwell LLP, as a policy council handbook. He’ll moreover act as non-executive Chair of Apollo World Management Inc. and succor as Adjunct Professor at the College of Pennsylvania Carey Regulations College.

One River’s Cryptocurrency Wager

Sooner than the economic crisis ensuing from the response to COVID-19, One River CEO Eric Peters focused his approach essentially based totally on volatility, bringing in returns of spherical 35% in 2020. 

The firm has made necessary investments in Bitcoin. In November, it announced a $600 million Bitcoin prefer. In contemporary statements, Peters moreover confirmed that One River plans to amplify its Bitcoin and Ethereum holdings to $1 billion in the first half of 2021.

One River has moreover acquired monetary backing from the Brevan Howard Asset Management Fund and Ruffer LLP.

At the time of scripting this creator held Bitcoin and now no longer as much as $15 of altcoins.

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