Former SEC Chairman Personally Advises! Jay Clayton Joins Digital Asset Management Company One River Advisory Board

Former U.S. Securities and Exchange Commission Chairman Jay Clayton has joined the advisory council of One River's digital asset investment division, where he will work alongside other professionals from political and economic backgrounds to provide consulting services to One River.

Jay Clayton Joins One River Advisory Council

While serving as the Chairman of the U.S. Securities and Exchange Commission, Jay Clayton made it clear that Bitcoin is not a security, significantly reducing the legal uncertainty surrounding Bitcoin. However, during his tenure, he also rejected several Bitcoin ETF applications. Nevertheless, this does not mean that Jay Clayton has always held a negative attitude towards Bitcoin.

According to a report by the Associated Press, this former Chairman of the U.S. Securities and Exchange Commission will join the advisory council of One River's digital asset investment department. Jay Clayton will leverage his expertise in the legal field and years of experience as the Chairman of the U.S. Securities and Exchange Commission to provide advisory services to One River alongside Kevin Hassett, former senior advisor to President Trump, Jonathan Orszag, CEO of a global economic advisory firm, and other professionals from the political and economic sectors. Other members of the council expressed in a press release:

"Eric is willing to listen to our views on the digitization of currency, banking, and capital market ecosystems, as well as One River's commitment to transparency, which we greatly admire. As digitization's impact on the market spreads globally, we look forward to working with One River."

On the other hand, Eric Peters, CEO of One River, also stated that they will continue to expand the council's influence in the future to include more thought leaders from different backgrounds and areas of expertise.

One River's Next-Gen Asset Allocation

One River is a traditional financial asset management company that has entered the cryptocurrency market. In November 2020, the company made significant investments in Bitcoin. According to reports, the company launched a new fund in November last year and purchased $600 million worth of Bitcoin at a price of less than $16,000. Even macro hedge funds with assets over $10 billion, such as Brevan Howard Asset Management and the UK asset management company Ruffer Investment, are investors in this fund. Eric Peters, CEO of One River, stated in an interview with Bloomberg at the time:

"In early 2021, we will increase our holdings of Bitcoin and Ethereum to a $1 billion scale. This is a new generation of asset allocation, and this wave is just beginning."