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Ripple Enemy, Former SEC Chair, Now Supports It Inadvertently, Here's How

Tue, 11/01/2022 - 15:50
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Yuri Molchan
Jay Clayton, who sued Ripple, works for company that is now supporting crypto giant in court
Ripple Enemy, Former SEC Chair, Now Supports It Inadvertently, Here's How
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Fox Business journalist and producer Eleanor Terrett has tweeted that Jay Clayton, the former SEC chairman who initiated the lawsuit against Ripple Labs, Brad Garlinghouse and Chris Larsen, claiming that XRP is a security, now indirectly supports Ripple. He is doing it by working for Electric Capital, one of the companies that decided to file an amicus brief in support of Ripple Labs.

Clayton joined Electric Capital as an advisor in August this year.

Dr. Bill Hinman, former director of the SEC, who delivered a speech in 2018 calling Ethereum a nonsecurity asset, joined the board of Andreessen Horowitz. This company and Electric Capital are both members of the Crypto Council. This entity was among the four who requested to file an amicus brief to support Ripple fintech firm over the past 24 hours.

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Aside from the Crypto Council, these requests came from the Coinbase exchange, VC firm Valhil Capital and CryptoLaw founder John E. Deaton.

Eleanor Terrett shared the irony of the situation, tweeting that Clayton and Hinman are now "inadvertently supporting" Ripple.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at