Former
US Securities and Exchange Commission (SEC) Chair Jay Clayton has joined the
board of advisors of crypto custody service Fireblocks.
Clayton
will collaborate with Fireblocks on market structure and customer needs, as
well as support and deployment of the firm's security technologies, according
to the company. Clayton, who left the SEC in December, is also a board member
of Apollo Global Management and a consultant for One River Digital Asset
Management.
Fireblocks
offers multi-party computation (MPC) services as well as software security
solutions for digital asset custody. The company also offers tools for
accelerating or otherwise streamlining the settlement of digital asset
transactions.
Fireblocks
raised more than $300 million in a Series D fundraising round a month ago,
valuing the company at $2 billion. The fundraising round included DRW, Sequoia
Capital, Spark Capital, Stripes, and Coatue.
Some
of Fireblocks' high-profile clients include the digital bank Revolut, BNY
Mellon, and the yet-to-be-launched diem stablecoin.
Since
returning to private life, a number of former top government officials have
taken up responsibilities in the digital asset sector. Chris Giancarlo, the
former Chair of the Commodity Futures Trading Commission (CFTC), is now an
adviser to the Chamber of Digital Commerce and BlockFi, as well as one of the
founders of the Digital Dollar Foundation.
Some of those post-government service jobs turned out to be temporary. Former Acting Comptroller of the Currency Brian Brooks served as Binance.CEO US's for a few months, while former SEC Director of Trading and Markets Brett Redfearn worked at Coinbase for a few months.
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