Hedge Funds
Investment manager One River Asset Management, a $2.5 billion firm, hired former Securities and Exchange Commission (SEC) chair, Jay Clayton, as an adviser to its crypto-oriented subsidiary One River Digital Asset Management. Clayton served as SEC Chairman under the Trump administration from May 2017 until the end of 2020. During his tenure, the SEC blocked several attempts of various funds providers to launch Bitcoin exchange-traded funds (ETFs). Nevertheless, the financial watchdog decided that Bitcoin and Ether – the two largest cryptocurrencies by market cap – were not securities, which left the door open for a wider adoption among institutional investors.

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