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Finance

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.

By Brandy Betz
AccessTimeIconAug 24, 2022 at 3:19 p.m. UTC
Updated May 11, 2023 at 5:43 p.m. UTC
Former SEC Chair Jay Clayton (John Lamparski/WireImage/Getty Images)
Former SEC Chair Jay Clayton (John Lamparski/WireImage/Getty Images)

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).

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    • 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

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz
    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.

    Follow @BrandyBetz on Twitter