Crypto firm Fireblocks appoints former SEC chair

Cryptocurrency infrastructure firm Fireblocks has appointed former US Securities and Exchange Commission (SEC) chair Jay Clayton to its advisory board.

Fireblocks provides infrastructure solutions that aim to secure and speed up the transfer of digital assets such as bitcoin and ethereum.

Clayton worked at the SEC between 2017 and 2020, where he worked on several high-profile digital asset regulation issues.

Fireblocks is not the only cryptocurrency company to announce the hire of a senior ex-government official this week.

Cryptocurrency exchange Binance has hired former US government criminal investigator Greg Monahan to lead its anti-money laundering (AML) operations.

The news comes after Fireblocks raised $310 million at a valuation of $2 billion in a Series D funding round in July.

The New York based firm launched its service publicly in June 2016, and its investors include Sequoia Capital, Stripes, and Spark Capital.

Fireblocks said its clients include Revolut, consumer trading platform eToro, and digital asset merchant bank Galaxy Digital.

The firm has offices in the United Kingdom, Israel, Hong Kong, Singapore, and France, and claims to have secured over $1 trillion in digital asset transfers.

"Jay's insights on financial stability and security in financial markets is unparalleled," said Michael Shaulov, chief executive and co-founder of Fireblocks. "Fireblocks will greatly benefit from having Jay on the advisory board given his expertise on many aspects of the financial sector.”

He added: “Jay will help to advance further the safety and security of the Fireblocks infrastructure for capital markets participants and investors."

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