Jay Clayton Takes Helm at SDNY, Returning to Government With Crypto Record in Tow
Jay Clayton officially became U.S. Attorney for the Southern District of New York, appointed by President Trump. This office oversees Wall Street and has a history of significant financial crime prosecutions. Clayton aims to prioritize public safety, combat fraud against vulnerable populations, maintain financial system integrity, and defend national security. His previous role as SEC Chairman involved policing the 2016 initial coin offering boom, resulting in 57 cases against crypto firms and halting 18 suspected fraud operations. Although his enforcement actions on crypto are fewer than his successor Gary Gensler's, a higher percentage received unanimous approval. Clayton's relationship with the crypto industry has been complex, and his appointment follows the SEC's dropped appeal in the Ripple case he initiated. After leaving the SEC, he took advisory roles in crypto firms and helped One River list a Bitcoin ETF. Clayton expressed honor in serving at the SDNY, highlighting his career achievements, including bipartisan confirmation as SEC Chair in 2017 and prior defense of major Wall Street firms.
