Former SEC Head to Advise One River Founder on Crypto
Brookings Institution/Paul Morigi
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Former Securities and Exchange Commission Chairman (SEC), Jay Clayton, will advise One River Founder and CEO, Eric Peters, on cryptocurrency initiatives, Bloomberg has learned. One River Asset Management, whose crypto-focused funds are backed by hedge fund Alan Howard, also hired Kevin Hassett and Jonathan Orszag as advisors.

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In an interview with Bloomberg, Clayton admitted he would not have predicted such fast digitization of financial ecosystem.

"Three years ago, I did not believe we would be where we are today — the number of respected investors who have embraced digital assets. I would not have predicted this level of take-up," he said.

Clayton's comments on "respected investors" comes after Tesla, SkyBridge, and other big companies and funds have invested in the bitcoin (EXANTE: Bitcoin) cryptocurrency. In December last year, Brevan Howard, one of the largest macro hedge funds in the world, indirectly invested in cryptocurrencies through One River Asset Management.

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One River Digital Asset Management plans to increase its holdings in BTC and ETH to approximately $1 billion in 2021.

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