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Ex-SEC Chairman Clayton to Advise Brevan-Backed Firm on Crypto

  • Role shouldn’t be seen as relaxed view on regulation, he said
  • Advisory board also to include Kevin Hassett and Jon Orszag
Jay Clayton
Jay ClaytonPhotographer: Andrew Harrer/Bloomberg

One River Asset Management, a $2.5 billion firm whose cryptocurrency funds are backed by hedge fund titan Alan Howard, brought on former Securities and Exchange Commission Chairman Jay Clayton as an adviser, lending credibility to an emerging asset class that still lacks comprehensive regulation.

Clayton will be one of three advisers to One River founder and Chief Executive Officer Eric Peters. The other two are Kevin Hassett, who served as chairman of the Council of Economic Advisers under President Donald Trump, and Jonathan Orszag, an economic consultant who previously worked in the Clinton administration.