Step Down...step down
President Trump’s pick to be the next U.S. attorney for the Southern District of New York, is none other then chairman of the Securities and Exchange Commission and a longtime corporate lawyer with deep connections to Wall Street, Jay Clayton.
This news has really hit the mainstream, Clayton is currently facing an uphill battle to win the Senate confirmation. Even Senate Minority Leader Charles E. Schumer (D-N.Y.) has already called on Clayton to drop out. “Jay Clayton can allow himself to be used in the brazen Trump-Barr scheme to interfere in investigations by the U.S. Attorney for SDNY, or he can stand up to this corruption, withdraw his name from consideration, and save his own reputation from overnight ruin.”
Funny thing is myself and the entire crypto & bitcoin space know SEC Chairman Clayton very well. He was actually appointed by Trump to stop the ICO boom in 2017, and has been a big road block for Bitcoin and Cryptocurrency regulation ever since. We have covered him many times on the show he lacks a technical understanding of DLT and gives just a genuine "doesn't care" attitude whenever he talks about it, which has been often in his short time there.
Honestly Clayton is Trumps guy both of them play golf together and are very close and Jay will do whatever he is told. Looking forward to his step down from the SEC chairman position. As for the controversy behind the appointment, I am not surprised everything Trump has done in his presidency has always had terrible optics but nothing changes. Ultimately anyone but Jay is a great thing, if I had to choose my first choice would be Hester Peirce.