Clayton will join the company’s newly formed Academic and Regulatory Advisory Council along with economist Jon Orszag, and former White House advisor Kevin Hassett.

Former U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton has taken an advisory job at hedge fund One River Digital Asset Management, the parent company of this recently established digital asset finance One River Digital.

In a press release on Monday, 1 River Digital Asset Management, which manages over $2.5 billion in institutional assets, declared Clayton will join the firm’s newly formed Academic and Regulatory Advisory Council and economist Jon Orszag, and former White House advisor Kevin Hassett.

Clayton led the SEC through its crackdown on unregistered and fraudulent preliminary coin offerings.

Institutional bitcoin company One River Digital is endorsed by billionaire hedge fund manager Alan Howard and has spent $600 million in bitcoin and ether (ETH, +2.62%) for institutional customers.

The new advisory council will likely be tasked with helping One River Asset Management to navigate existing policies regarding digital assets.

“The 1 River Academic and Regulatory Advisory Council will help us consider how these new digital systems and the investment opportunities they provide will best fit within existing coverage, while also helping us consider how to advance these frameworks in ways that ensure the US continues to lead the world in fiscal innovation and asset management,” said Eric Peters, CEO of One River Asset Management.

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