Fireblocks today announced that Jay Clayton, former SEC chairman, is joining them as the newest member of their advisory board. Fireblocks is an Israel-based Bitcoin and Ethereum Custodian and has a valuation that exceeds $2 Billion.  Fireblocks And Clayton  Fireblocks was excited with the addition of the former SEC chairman to its advisory board and praised the addition, stating that they believe that Clayton’s addition would help the firm and its customers to “navigate the evolving market and regulatory dynamics affecting the development and deployment of solutions for the emerging digital asset infrastructure.” John Clayton brings decades of experience in international finance and regulatory and capital market experience to Fireblocks. Clayton believes that the firm could significantly improve the digital assets custodian space. He further added,  A Change Of Heart  The former SEC Chairman did not always supportive of the crypto space, with the SEC taking a fairly strict position against cryptocurrencies during his tenure as chairman. The SEC rejected numerous ETF applications from Bitcoin and Ethereum and brought charges against several companies involved in the crypto space, such as Telegram, Ripple, and Block.One. At that time, Clayton repeatedly stressed the fact that the Bitcoin market could be manipulated and should not have an ETF on the US stock exchange.  The Charge On Ripple The SEC’s action against Ripple took place towards the end of Clayton’s tenure, close to his resignation, and led to a huge sell-off that had implications for all major cryptocurrencies. Ripple saw a drop of 50% in its valuation, while the crypto market also tumbled by 10%. The legal issues between Ripple and the SEC are still ongoing.  Diving Into The Crypto Space  After he left the SEC, Clayton has shown renewed interest in the cryptocurrency space and has dived head-first into the industry. Currently, Clayton serves in various capacities in various crypto firms. One of the more prominent roles he has served is at the One River Asset Management, where he served in an advisory role on cryptocurrency regulation and compliance. Clayton’s role in the firm has seen him try and get approval for a Bitcoin ETF from the SEC.  Other Trump administration officials have also joined the crypto industry, with prominent individuals such as Kathy Kraninger from the US Consumer Financial Protection Bureau and Brian Brooks from the Office of the Comptroller of the Currency have also made the jump to the cryptocurrency space.  Other Advisory Board Members  Other members on the Fireblock’s advisory board include cryptography adviser Ran Cannetti, Cyberstart’s founder Gili Raanan, Tom Banahan from Tenaya Capital, Gil Mendelzis from Capitolis, Ken Fox from Stripes, and Paradigm’s Fred Ehrsam.  Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.