Earlier this year, it raised $1 billion for two new funds, Bloomberg reported. cryptocurrency Electric Capital, a focused venture capital firm, has appointed former Securities and Exchange Commission (SEC) Chairman Jay Clayton as advisor.
Cryptocurrency Company Electric Capital Gathers Former Executives of FED, SEC, and CFTC
The crypto investor company has also appointed former FED Board member Kevin Walsh and Meta Platforms vice president and head of research Pratiti Raychoudhury as advisors.
Ever since Clayton left the SEC bitcoin and he is not a newcomer to the world of cryptocurrencies. He also advises at digital asset custodian Fireblocks and investment manager One River Asset Management.
Other former regulators who have transitioned to cryptoassets over the past year include former Commodity Futures Trading Commission (CFTC) chairs Brian Quintenz and J. Christopher Giancarlo.
Quintenz sits on the crypto advisory panel of investment giant Andreessen Horowitz, and Giancarlo serves as a strategic advisor at CoinFund.
However, the current chairman of the SEC, Gary Gensler, is not a person who gets along very well with the crypto-asset industry. The head of the SEC claims that almost all cryptocurrencies are securities.
In particular, Ripple, a US-based blockchain company, comes under constant pressure from the regulatory agency. The SEC believes that Ripple is unregisteredly selling securities across US borders along with the sale of XRP.
*Not investment advice.
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