Electric Capital, a crypto-focused venture capital firm that raised $1 billion for two new funds earlier this year, has named former Securities and Exchange Commission (SEC) Chariman Jay Clayton as an advisor, according to a Bloomberg report.
The crypto investor also named two other advisors: Kevin Walsh, former member of the Federal Reserve Board of Governors, and Pratiti Raychoudhury, vice president and research head at Meta Platforms.
As for Clayton, he isn’t new to the crypto space, with existing advisor positions at digital assets custodian Fireblocks and investment manager One River Asset Management.
Among other former regulators who have moved into crypto within the past year are ex-Commodity Futures Trading Commission heads Brian Quintenz and J. Christopher Giancarlo. Quintenz sits on investment giant’s Andreessen Horowitz’s crypto advisory panel, and Giancarlo is a strategic advisor at CoinFund.
Read more: Crypto Investment Firm CoinFund Launches $300M Web3 Fund
