Today we’ve uncovered a video that indicates former SEC Chairman Clayton was behind the SEC’s moves that created a favorable environment for two crypto companies, Ethereum and Bitcoin, while he was SEC Head. He dropped a lawsuit on their largest competitor Ripple on his last day in office. We know that Clayton made out handsomely as a result.
In June we reported on the case of the century that involved the newly developed cryptocurrency industry, China, and some corrupt individuals in the US government who were trying to take advantage of select cryptocurrencies that they had an opportunity to cash in on.
The big question on the Internet related to this story, is who made the call to give Ethereum an unfair advantage in the industry by labeling only Ethereum as a non-investment, allowing them to sidestep Investment-related regulations?
We found the answer to this question and it is the same guy who shackled Ripple on his last day in office, Jay Clayton.
In a video we found on YouTube Clayton is the one who directed Lowell Ness, a partner at Perkins Coie to draft the memo about Ethereum.
This video indicates Jay Clayton was with attorney Lowell Ness at a meeting at venture firm Andreessen Horowitz on January 25, 2018, where the former SEC Chairman asked them for advice and suggestions for a “playbook” that would essentially become the SEC Guidelines that would give Ethereum a ‘free pass’. This meeting was confirmed on Clayton’s calendar.
The Perkins Coie team then took their document to the SEC and presented their position in April to the joy of SEC leadership.