30s Summary
Donald Trump has chosen Jay Clayton, former head of the Securities and Exchange Commission (SEC), as U.S. Attorney for New York’s southern district. After leaving the SEC in 2020, Clayton advised various crypto firms and became a senior policy advisor at law firm Sullivan and Cromwell. His tenure at the SEC included the launch of a lawsuit against Ripple Labs. Clayton replaces Damian Williams, known for prosecuting financial and corporate cases. Trump previously attempted to nominate Clayton for this role, and has also suggested people for positions in Health and Human Services, the Attorney General, Secretary of State, and more.
Full Article
Donald Trump, once again at the helm, has decided on Jay Clayton, the former head of the Securities and Exchange Commission, for the role of U.S. Attorney for New York’s southern district. This office looks after the Department of Justice for the state.
Since leaving his position at the Securities and Exchange Commission (SEC) in December 2020, Clayton has been giving advice to various firms in the crypto industry. He was instrumental in the SEC’s DAO Report and expressed his belief that the majority of initial coin offerings (ICOs) were securities – a sentiment that Gary Gensler, his successor at the SEC, also shares.
Clayton’s time at the SEC was pivotal, with one of his last actions being the approval of its lawsuit against Ripple Labs, which is still ongoing in the federal appellate court system. Since leaving his SEC role, Clayton has joined the law firm Sullivan and Cromwell as a senior policy advisor and is also involved in various advisory roles in the industry.
Clayton’s replacement of Damian Williams as U.S. Attorney for New York’s southern district marks a transition from a tenure marked by prosecuting cases related to financial and corporate misdeeds, including a well-publicised case against FTX founder Sam Bankman-Fried.
This isn’t the first time Trump wanted Clayton for the role. Trump attempted to nominate Clayton for the position previously, to replace then-U.S. Attorney Geoffrey Berman.
Among others in Trump’s circle for different roles include Robert F. Kennedy Jr. for Health and Human Services, Representative Matt Gaetz as Attorney General, Senator Marco Rubio for Secretary of State, and former Representative Tulsi Gabbard for Director of National Intelligence. Elon Musk and Vivek Ramaswamy have been nominated as co-heads of a Department of Government Efficiency; a position which requires Congressional approval to be created.