Trump Picks Former Ripple (XRP) Foe Jay Clayton for Top Intelligence Role
President Donald Trump nominated former SEC Chairman Jay Clayton as Director of National Intelligence on Thursday. Clayton licensed the company’s landmark lawsuit in opposition to Ripple in 2020, making him probably the most consequential regulators in XRP’s historical past.
The nomination requires Senate affirmation. Clayton at present serves as US Attorney for the Southern District of New York and would exchange performing appointee Bill Pulte.
Why Jay Clayton Still Divides the XRP Community
The SEC filed its complaint in opposition to Ripple Labs on December 22, 2020, Clayton’s final full day as chairman. The company alleged the corporate raised $1.3 billion by unregistered XRP gross sales.
It additionally mentioned executives Brad Garlinghouse and Chris Larsen made roughly $600 million in private gross sales.
Garlinghouse repeatedly accused Clayton of hypocrisy, arguing the chairman handled XRP extra harshly than Bitcoin (BTC) or Ethereum (ETH). J
udge Analisa Torres later dominated that solely Ripple’s institutional gross sales violated securities regulation. She fined the agency $125 million in August 2024, far beneath the almost $2 billion the SEC needed.
Both sides dropped their remaining appeals in 2025. XRP merchants shrugged off Thursday’s information.
The token gained nearly 4% on Thursday to commerce close to $1.13, holding its spot because the sixth-largest cryptocurrency at a $71 billion market cap.
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A Steadier Pick After the Pulte Backlash
Trump handed the position to Federal Housing Finance Agency Director Bill Pulte on an performing foundation earlier this month.
Crypto markets cheered the acting pick due to his pro-crypto mortgage insurance policies. However, Pulte’s lack of intelligence expertise drew bipartisan objections.
House Democrats blocked a short-term FISA Section 702 extension on Thursday in protest.
Clayton gives Senate Republicans a better path. Lawmakers confirmed him 61-37 to guide the SEC in 2017.
Federal judges later named him SDNY attorney after his 2025 nomination stalled. Still, critics word he additionally lacks any intelligence background.
“I’m happy to announce the Nomination of very Highly Respected Jay Clayton, former Chairman of the Securities and Exchange Commission… to be the subsequent Director of National Intelligence and, importantly, to serve in my Cabinet,” Trump wrote in a Truth Social publish saying the choice.
Confirmation hearings will now take a look at Clayton on surveillance and nationwide safety.
XRP holders, in the meantime, will watch whether or not their outdated adversary leaves monetary regulation behind for good.
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