“Crypto’s Frenemy: The Lawyer Who Sued Them Now Saves Them?!”

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Jay Clayton, once the architect of the SEC’s crusade against Ripple, now dons the very robes of the defender in the SDNY. A tale so grand, one wonders if fate enjoys a jest—or just a badly written play.

In the tangled dance of power and politics, President Trump seeks to charm the tempestuous beast of crypto regulation with promises of leniency. Yet the hero chosen—Jay Clayton—was once the very hand that drew the sword against Ripple’s digital empire. Was this irony, or mere recklessness dressed as strategy?

Jay Clayton and the Ripple Lawsuit

Once, not so long ago, Clayton stood as the SEC’s mighty sentinel, wielding authority from 2017 to 2020. On December 22nd, with the gravitas of a final act, he filed suit against Ripple, and by dawn’s light, he vanished from his post—leaving behind whispers that it was a “parting shot.” How curious, that the man who struck first now promises peace.

A few years onwards, Clayton steps from the shadows of accusation into the glaring spotlight as the champion against crypto crackdowns at the very institution he once defied. While people cheered Trump’s call for halting enforcement, they may have missed that their new “protector” once penned the original indictment.

Our dear Brad Garlinghouse, the CEO of Ripple, did not mask his scorn—his fury steaming through social media:

Watching this clip makes my blood boil.

The hypocrisy is shocking. @CNBC @SquawkCNBC should be calling him out for the bullshit.

(As a reminder, jay clayton brought the case against ripple, me and Chris Larsen. And left the building the next day).

— Brad Garlinghouse (@bgarlinghouse) October 28, 2023

Further Controversy In the Confirmation Process

Meanwhile, the political stage grows ever murkier. Trump, ever the master of cheeky tactics, intends to bypass the tiresome Senate confirmation—a process Senator Chuck Schumer vows to block with all the enthusiasm of one guarding ice cream on a summer day. 🍦

Clayton was named Acting SDNY US Attorney without so much as a proper audition. Should the Senate refuse confirmation within 120 days, local judges may simply appoint him—as if this were a game of musical chairs where the music never stops. 🎶 Sure enough, Clayton may remain in office indefinitely, to some applause—and some agonized groans.

One cannot help but wonder: How much trust can the crypto world place in its erstwhile adversary turned ally? Are we witnessing genuine repentance or a wolf in wolf’s clothing who just grew tired of wearing a SEC badge? 🤔

As the crypto community debates this curious alliance, it becomes clear: in the wild theater of politics, friends and enemies may only be masks worn for a season. And in this drama, the script grows ever more unpredictable—season 2 already underway.

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2025-04-23 02:32