Trump Picks Former Ripple (XRP) Foe Jay Clayton for Top Intelligence Role

BeInCrypto2026/06/11 21:36

By:BeInCrypto

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President Donald Trump nominated former SEC Chairman Jay Clayton as Director of National Intelligence on Thursday. Clayton authorized the agencys landmark lawsuit against Ripple in 2020, making him one of the most consequential regulators in XRPs history. The nomination requires Senate confirmation. Clayton currently serves as US Attorney for the Southern District of New York and would replace acting appointee Bill Pulte. Why Jay Clayton Still Divides the XRP Community The SEC filed its complaint against Ripple Labs on December 22, 2020, Claytons last full day as chairman. The agency alleged the company raised $1.3 billion through unregistered XRP sales. It also said executives Brad Garlinghouse and Chris Larsen made roughly $600 million in personal sales. Garlinghouse repeatedly accused Clayton of hypocrisy, arguing the chairman treated XRP more harshly than Bitcoin (BTC) or Ethereum (ETH). J udge Analisa Torres later ruled that only Ripples institutional sales violated securities law. She fined the firm $125 million in August 2024, far below the nearly $2 billion the SEC wanted. Both sides dropped their remaining appeals in 2025. XRP traders shrugged off Thursdays news. Ripple (XRP) Price Performance. The token gained nearly 4% on Thursday to trade near $1.13, holding its spot as the sixth-largest cryptocurrency at a $71 billion market cap. Follow us on Xto get the latest news as it happens A Steadier Pick After the Pulte Backlash Trump handed the role to Federal Housing Finance Agency Director Bill Pulte on an acting basis earlier this month. Crypto markets cheered the acting pick because of his pro-crypto mortgage policies. However, Pultes lack of intelligence experience drew bipartisan objections. House Democrats blocked a short-term FISA Section 702 extension on Thursday in protest. Clayton offers Senate Republicans an easier path. Lawmakers confirmed him 61-37 to lead the SEC in 2017. Federal judges later named him SDNY attorney after his 2025 nomination stalled. Still, critics note he also lacks any intelligence background. I am pleased to announce the Nomination of very Highly Respected Jay Clayton, former Chairman of the Securities and Exchange Commission to be the next Director of National Intelligence and, importantly, to serve in my Cabinet, Trump wrote in a Truth Social post announcing the decision. Confirmation hearings will now test Clayton on surveillance and national security. XRP holders, meanwhile, will watch whether their old adversary leaves financial regulation behind for good.

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