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Ex-SEC Chair Jay Clayton Joins Crypto Investor Electric Capital as Adviser: Report
The news continues a trend of regulatory experts sliding over to jobs in the crypto industry.
Electric Capital, a crypto-focused venture capital firm that raised $1 billion for two new funds earlier this year, has named former Securities and Exchange Commission (SEC) Chariman Jay Clayton as an adviser, according to a Bloomberg report.
The crypto investor also named two other advisers: Kevin Walsh, former member of the Federal Reserve Board of Governors; and Pratiti Raychoudhury, vice president and research head at Meta Platforms (META).
STORY CONTINUES BELOW
Clayton isn’t new to the crypto space since leaving the SEC. He is an adviser at digital assets custodian Fireblocks and at investment manager One River Asset Management.
Among other former regulators who have moved into crypto within the past year are ex-Commodity Futures Trading Commission heads Brian Quintenz and J. Christopher Giancarlo. Quintenz sits on investment giant’s Andreessen Horowitz’s crypto advisory panel, and Giancarlo is a strategic adviser at CoinFund.
Read more: Crypto Investment Firm CoinFund Launches $300M Web3 Fund
Brandy Betz
Brandy covered crypto-related venture capital deals for CoinDesk. She previously served as the Technology News Editor at Seeking Alpha and covered healthcare stocks for The Motley Fool. She doesn't currently own any substantial amount of crypto.
